Federal Signal (NYSE:FSS) Downgraded by Zacks Investment Research

Federal Signal (NYSE:FSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

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 cut Federal Signal from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.

Shares of NYSE FSS traded down $0.03 during trading hours on Friday, hitting $33.31. 695,786 shares of the company traded hands, compared to its average volume of 316,420. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 23.29 and a beta of 1.60. The company has a current ratio of 2.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average price is $31.71 and its 200 day moving average price is $28.29. Federal Signal has a 12 month low of $18.59 and a 12 month high of $34.12.

Federal Signal (NYSE:FSS) last released its earnings results on Wednesday, July 31st. The conglomerate reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. The firm had revenue of $324.30 million for the quarter, compared to the consensus estimate of $305.40 million. Federal Signal had a return on equity of 17.99% and a net margin of 9.11%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. Equities analysts anticipate that Federal Signal will post 1.72 EPS for the current year.

In related news, Director Richard R. Mudge sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $29.50, for a total transaction of $295,000.00. Following the completion of the sale, the director now directly owns 87,678 shares in the company, valued at approximately $2,586,501. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis J. Martin sold 47,734 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $30.37, for a total value of $1,449,681.58. Following the sale, the director now owns 206,518 shares of the company’s stock, valued at $6,271,951.66. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $3,538,690 over the last quarter. Company insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FSS. Municipal Employees Retirement System of Michigan increased its position in Federal Signal by 1.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,990 shares of the conglomerate’s stock valued at $481,000 after buying an additional 330 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Federal Signal by 1.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,730 shares of the conglomerate’s stock valued at $635,000 after buying an additional 400 shares in the last quarter. Parallel Advisors LLC increased its position in Federal Signal by 43.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,300 shares of the conglomerate’s stock valued at $62,000 after buying an additional 700 shares in the last quarter. JPMorgan Chase & Co. increased its position in Federal Signal by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 169,924 shares of the conglomerate’s stock valued at $4,557,000 after buying an additional 724 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Federal Signal by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 93,520 shares of the conglomerate’s stock valued at $2,502,000 after buying an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 88.97% of the company’s stock.

About Federal Signal

Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through two segments, Environmental Solutions Group and Safety and Security Systems Group.

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