Federal Signal (FSS) Raised to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Federal Signal (NYSE:FSS) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday. The firm currently has $22.00 target price on the conglomerate’s stock.
According to Zacks, “Federal Signal Corporation (NYSE:FSS) is a leader in environmental and safety solutions. It provides products and services to protect people and the planet. Federal Signal is a leading global designer, manufacturer and supplier of products of and total solutions that serve municipal, governmental, industrial and commercial customers. With manufacturing facilities worldwide, the company operates through the following business segments: Environmental Solutions and Safety and Security Systems. Federal Signal is best known for its variety of emergency lighting, sirens, industrial equipment, and public safety solutions under brands including Federal Signal, Elgin, Guzzler, Jetstream, Vactor and Victor. Federal Signal Corporation is headquartered in Oak Brook, IL. “
Separately, ValuEngine lowered shares of Federal Signal from a buy rating to a hold rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $21.00.
In other news, Director James E. Goodwin sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $20.67, for a total value of $206,700.00. Following the completion of the sale, the director now directly owns 122,929 shares of the company’s stock, valued at approximately $2,540,942.43. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brenda Reichelderfer sold 8,279 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $20.76, for a total transaction of $171,872.04. Following the completion of the sale, the director now directly owns 69,388 shares of the company’s stock, valued at $1,440,494.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,000 shares of company stock valued at $1,348,940. Company insiders own 4.20% of the company’s stock.
Several large investors have recently modified their holdings of the company. Stanley Laman Group Ltd. lifted its stake in shares of Federal Signal by 2.5% in the 4th quarter. Stanley Laman Group Ltd. now owns 202,265 shares of the conglomerate’s stock worth $4,063,000 after acquiring an additional 4,838 shares during the period. TCW Group Inc. acquired a new stake in shares of Federal Signal in the 4th quarter worth approximately $225,000. BlackRock Inc. lifted its stake in shares of Federal Signal by 2.8% in the 4th quarter. BlackRock Inc. now owns 7,530,909 shares of the conglomerate’s stock worth $151,296,000 after acquiring an additional 206,616 shares during the period. Rhumbline Advisers lifted its stake in shares of Federal Signal by 16.4% in the 4th quarter. Rhumbline Advisers now owns 141,566 shares of the conglomerate’s stock worth $2,844,000 after acquiring an additional 19,964 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Federal Signal by 223.8% in the 4th quarter. Arizona State Retirement System now owns 100,817 shares of the conglomerate’s stock worth $2,025,000 after acquiring an additional 69,685 shares during the period. 84.15% of the stock is owned by institutional investors.
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About Federal Signal
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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