Federal Signal Corporation (NYSE:FSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $23.00 price objective on the conglomerate’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.00% 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 shares of Federal Signal Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Four investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $21.50.
Shares of Federal Signal Corporation (NYSE FSS) traded up 1.65% on Wednesday, hitting $20.91. The company’s stock had a trading volume of 487,080 shares. The stock’s 50 day moving average price is $18.67 and its 200 day moving average price is $16.54. The stock has a market capitalization of $1.25 billion, a P/E ratio of 31.92 and a beta of 1.36. Federal Signal Corporation has a 52 week low of $11.68 and a 52 week high of $20.96.
Federal Signal Corporation (NYSE:FSS) last issued its quarterly earnings data on Tuesday, August 8th. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The firm had revenue of $224.40 million during the quarter, compared to analysts’ expectations of $206.53 million. Federal Signal Corporation had a net margin of 5.20% and a return on equity of 10.59%. Federal Signal Corporation’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. On average, analysts forecast that Federal Signal Corporation will post $0.79 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of the stock. BW Gestao de Investimentos Ltda. boosted its holdings in Federal Signal Corporation by 17.9% in the second quarter. BW Gestao de Investimentos Ltda. now owns 15,715 shares of the conglomerate’s stock worth $273,000 after purchasing an additional 2,385 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in Federal Signal Corporation in the second quarter worth $224,000. Susquehanna International Group LLP bought a new stake in Federal Signal Corporation in the second quarter worth $668,000. Scotia Capital Inc. boosted its holdings in Federal Signal Corporation by 14.7% in the second quarter. Scotia Capital Inc. now owns 70,140 shares of the conglomerate’s stock worth $1,217,000 after purchasing an additional 8,997 shares in the last quarter. Finally, Mitra Capital LLC bought a new stake in Federal Signal Corporation in the second quarter worth $1,825,000. Hedge funds and other institutional investors 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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