Zacks Investment Research Downgrades Federal Signal (FSS) to Hold

Zacks Investment Research downgraded shares of Federal Signal (NYSE:FSS) from a strong-buy rating to a hold rating in a research note published on Tuesday 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. “

Shares of NYSE:FSS traded down $0.33 on Tuesday, hitting $23.77. 234,734 shares of the company were exchanged, compared to its average volume of 271,959. Federal Signal has a one year low of $18.37 and a one year high of $28.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 2.15. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 27.96 and a beta of 1.31.

Federal Signal (NYSE:FSS) last posted its earnings results on Tuesday, August 7th. The conglomerate reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.12. The business had revenue of $291.00 million for the quarter, compared to analysts’ expectations of $271.83 million. Federal Signal had a net margin of 7.97% and a return on equity of 15.24%. Equities analysts predict that Federal Signal will post 1.32 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its position in Federal Signal by 2.0% in the first quarter. Legal & General Group Plc now owns 125,951 shares of the conglomerate’s stock valued at $2,761,000 after buying an additional 2,484 shares in the last quarter. MetLife Investment Advisors LLC boosted its position in Federal Signal by 10.5% in the second quarter. MetLife Investment Advisors LLC now owns 27,402 shares of the conglomerate’s stock valued at $638,000 after buying an additional 2,604 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Federal Signal by 12.1% in the second quarter. OppenheimerFunds Inc. now owns 37,668 shares of the conglomerate’s stock valued at $877,000 after buying an additional 4,076 shares in the last quarter. Zacks Investment Management boosted its position in Federal Signal by 10.4% in the second quarter. Zacks Investment Management now owns 45,432 shares of the conglomerate’s stock valued at $1,058,000 after buying an additional 4,270 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Federal Signal by 1.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 470,513 shares of the conglomerate’s stock worth $10,959,000 after purchasing an additional 5,736 shares in the last quarter. Hedge funds and other institutional investors own 87.76% 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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