Federal Signal Corporation (NYSE:FSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $23.00 price target on the conglomerate’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.36% from the stock’s current price.

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 research analysts have rated the stock with a buy rating, Federal Signal Corporation currently has a consensus rating of “Buy” and a consensus price target of $21.50.

Federal Signal Corporation (NYSE:FSS) opened at 20.29 on Thursday. The company’s 50-day moving average price is $18.67 and its 200-day moving average price is $16.54. The company has a market capitalization of $1.22 billion, a P/E ratio of 30.98 and a beta of 1.36. Federal Signal Corporation has a 52 week low of $11.68 and a 52 week high of $20.60.

Federal Signal Corporation (NYSE:FSS) last posted its earnings results on Tuesday, August 8th. The conglomerate reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $224.40 million during 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%. Federal Signal Corporation’s revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. On average, equities analysts forecast that Federal Signal Corporation will post $0.79 EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc lifted its position in shares of Federal Signal Corporation by 12,320.0% during the 2nd quarter. IFP Advisors Inc now owns 6,831 shares of the conglomerate’s stock worth $119,000 after buying an additional 6,776 shares during the period. Pinebridge Investments L.P. lifted its position in shares of Federal Signal Corporation by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 7,876 shares of the conglomerate’s stock worth $137,000 after buying an additional 86 shares during the period. Karp Capital Management Corp bought a new position in shares of Federal Signal Corporation during the 1st quarter worth approximately $162,000. BNP Paribas Arbitrage SA lifted its position in shares of Federal Signal Corporation by 7.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,646 shares of the conglomerate’s stock worth $175,000 after buying an additional 915 shares during the period. Finally, Mason Street Advisors LLC lifted its position in shares of Federal Signal Corporation by 6.7% during the 1st quarter. Mason Street Advisors LLC now owns 13,965 shares of the conglomerate’s stock worth $193,000 after buying an additional 875 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

About Federal Signal Corporation

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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