Zacks Investment Research Lowers Federal Signal (FSS) to Hold

Zacks Investment Research cut shares of Federal Signal (NYSE:FSS) from a buy rating to a hold rating in a report issued on Thursday morning.

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 downgraded Federal Signal from a buy rating to a hold rating in a research note on Friday, December 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $22.50.

Shares of Federal Signal (NYSE:FSS) traded down $0.14 on Thursday, reaching $20.26. The company had a trading volume of 90,898 shares, compared to its average volume of 267,543. The company has a market cap of $1,215.28, a P/E ratio of 26.31 and a beta of 1.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.23 and a current ratio of 2.37. Federal Signal has a 52-week low of $13.07 and a 52-week high of $23.64.

Federal Signal (NYSE:FSS) last issued its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The firm had revenue of $249.00 million during the quarter, compared to the consensus estimate of $240.30 million. Federal Signal had a return on equity of 11.39% and a net margin of 5.30%. The firm’s revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. equities analysts predict that Federal Signal will post 0.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.28 dividend on an annualized basis and a yield of 1.38%. Federal Signal’s payout ratio is currently 38.36%.

In related news, Director Brenda Reichelderfer sold 45,721 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $20.76, for a total transaction of $949,167.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis J. Martin sold 45,172 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $21.90, for a total value of $989,266.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,172 shares of company stock valued at $2,338,207. 4.20% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in FSS. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Federal Signal by 993.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,133,385 shares of the conglomerate’s stock worth $66,678,000 after purchasing an additional 2,846,707 shares in the last quarter. FMR LLC grew its stake in shares of Federal Signal by 104.4% in the second quarter. FMR LLC now owns 1,591,319 shares of the conglomerate’s stock worth $27,625,000 after purchasing an additional 812,669 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Federal Signal by 8.0% in the second quarter. Franklin Resources Inc. now owns 5,279,934 shares of the conglomerate’s stock worth $91,659,000 after purchasing an additional 391,353 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of Federal Signal in the third quarter worth $6,833,000. Finally, Macquarie Group Ltd. grew its stake in shares of Federal Signal by 14.0% in the third quarter. Macquarie Group Ltd. now owns 1,299,374 shares of the conglomerate’s stock worth $27,651,000 after purchasing an additional 159,995 shares in the last quarter. 84.12% 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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