Federal Signal Corporation (FSS) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Federal Signal Corporation (NYSE:FSS) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $23.00 target price on the conglomerate’s stock.
According to Zacks, “Federal Signal Corp. designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. It operates in two segments, Environmental Solutions Group and Safety and Security Systems Group. The Environmental Solutions Group segment offers a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks, and water blasting equipment under the Elgin, Vactor, Guzzler, Westech, and Jetstream brand names. The Safety and Security Systems Group segment provides systems and products for campus and community alerting, emergency vehicles, first responder interoperable communications, and industrial communications, command and municipal networked security. This segment sells its products under the Federal Signal VAMA, and Victor brand names. It sells its products through wholesalers, independent manufacturer representatives, original equipment manufacturers, as well as independent foreign distributors. “
Separately, BidaskClub upgraded Federal Signal Corporation from a hold rating to a buy rating in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average price target of $21.50.
Federal Signal Corporation (FSS) opened at 21.28 on Wednesday. Federal Signal Corporation has a 1-year low of $11.68 and a 1-year high of $21.40. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 32.49 and a beta of 1.36. The firm’s 50-day moving average price is $18.67 and its 200-day moving average price is $16.54.
Federal Signal Corporation (NYSE:FSS) last posted its earnings results on Tuesday, August 8th. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $224.40 million for the quarter, compared to the consensus estimate of $206.53 million. Federal Signal Corporation had a return on equity of 10.59% and a net margin of 5.20%. The business’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. Equities research analysts forecast that Federal Signal Corporation will post $0.79 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.28 annualized dividend and a dividend yield of 1.32%. Federal Signal Corporation’s dividend payout ratio is currently 42.42%.
Institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in shares of Federal Signal Corporation by 12,320.0% in the second quarter. IFP Advisors Inc now owns 6,831 shares of the conglomerate’s stock worth $119,000 after purchasing an additional 6,776 shares during the period. Pinebridge Investments L.P. increased its holdings in shares of Federal Signal Corporation by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 7,876 shares of the conglomerate’s stock worth $137,000 after purchasing an additional 86 shares during the period. Karp Capital Management Corp bought a new position in shares of Federal Signal Corporation in the first quarter worth $162,000. State of Alaska Department of Revenue increased its holdings in shares of Federal Signal Corporation by 79.2% in the second quarter. State of Alaska Department of Revenue now owns 11,807 shares of the conglomerate’s stock worth $204,000 after purchasing an additional 5,217 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Federal Signal Corporation in the second quarter worth $205,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.
Federal Signal Corporation Company Profile
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.
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