Federal Signal’s (FSS) Outperform Rating Reaffirmed at Raymond James

Federal Signal (NYSE:FSS)‘s stock had its “outperform” rating reissued by Raymond James in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $110.00 price target on the conglomerate’s stock. Raymond James’ target price indicates a potential upside of 21.35% from the stock’s previous close.

Several other research firms have also commented on FSS. StockNews.com lowered shares of Federal Signal from a “buy” rating to a “hold” rating in a research report on Friday. DA Davidson dropped their target price on Federal Signal from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th.

Federal Signal Stock Down 1.3 %

Shares of FSS opened at $90.65 on Tuesday. The firm has a market capitalization of $5.54 billion, a P/E ratio of 26.28 and a beta of 0.99. Federal Signal has a 12-month low of $71.29 and a 12-month high of $102.18. The firm has a fifty day moving average price of $91.94 and a 200-day moving average price of $90.83. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19.

Federal Signal (NYSE:FSS) last posted its quarterly earnings results on Thursday, October 31st. The conglomerate reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.04. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The firm had revenue of $474.20 million during the quarter, compared to the consensus estimate of $481.71 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Equities research analysts expect that Federal Signal will post 3.34 earnings per share for the current year.

Institutional Trading of Federal Signal

Several institutional investors and hedge funds have recently bought and sold shares of FSS. Bank of New York Mellon Corp raised its position in Federal Signal by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 524,869 shares of the conglomerate’s stock valued at $43,916,000 after acquiring an additional 11,685 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Federal Signal by 2.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,996 shares of the conglomerate’s stock valued at $1,171,000 after purchasing an additional 329 shares during the period. Panagora Asset Management Inc. boosted its holdings in Federal Signal by 14.5% during the second quarter. Panagora Asset Management Inc. now owns 271,463 shares of the conglomerate’s stock worth $22,713,000 after buying an additional 34,365 shares in the last quarter. F M Investments LLC purchased a new position in Federal Signal in the second quarter valued at $11,058,000. Finally, Spire Wealth Management increased its holdings in Federal Signal by 6.8% in the second quarter. Spire Wealth Management now owns 11,403 shares of the conglomerate’s stock valued at $954,000 after buying an additional 723 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

About Federal Signal

Federal Signal Corp. engages in the design and manufacture of products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through the Environmental Solutions Group and Safety and Security Systems Group segments. The Environment Solutions Group segment is involved in the manufacture and supply of street sweeper vehicles, sewer cleaners, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment.