Federal Signal (NYSE:FSS) Price Target Cut to $52.00

Federal Signal (NYSE:FSS) had its price objective lowered by equities researchers at Raymond James from $56.00 to $52.00 in a report issued on Thursday, Price Targets.com reports. The firm currently has a “strong-buy” rating on the conglomerate’s stock. Raymond James’ target price points to a potential upside of 24.28% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. KeyCorp raised their price objective on shares of Federal Signal from $44.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, November 10th. They noted that the move was a valuation call. DA Davidson raised their price objective on shares of Federal Signal from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, November 10th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $49.80.

FSS opened at $41.84 on Thursday. Federal Signal has a one year low of $32.40 and a one year high of $48.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.95 and a quick ratio of 1.57. The company’s 50 day simple moving average is $44.04 and its 200-day simple moving average is $41.37. The stock has a market capitalization of $2.56 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01.

Federal Signal (NYSE:FSS) last released its quarterly earnings results on Tuesday, November 9th. The conglomerate reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Federal Signal had a net margin of 8.88% and a return on equity of 15.10%. The business had revenue of $298.30 million for the quarter, compared to analysts’ expectations of $325.50 million. During the same period in the prior year, the firm earned $0.42 earnings per share. Federal Signal’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that Federal Signal will post 1.74 EPS for the current year.

Several large investors have recently modified their holdings of FSS. Advisor Group Holdings Inc. raised its holdings in shares of Federal Signal by 5.8% during the second quarter. Advisor Group Holdings Inc. now owns 5,250 shares of the conglomerate’s stock worth $212,000 after acquiring an additional 289 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Federal Signal by 21.0% during the second quarter. Russell Investments Group Ltd. now owns 6,433 shares of the conglomerate’s stock worth $258,000 after acquiring an additional 1,117 shares during the period. Teacher Retirement System of Texas grew its position in Federal Signal by 17.5% in the second quarter. Teacher Retirement System of Texas now owns 7,950 shares of the conglomerate’s stock valued at $320,000 after purchasing an additional 1,185 shares in the last quarter. American Century Companies Inc. bought a new position in Federal Signal in the second quarter valued at $258,000. Finally, Sei Investments Co. bought a new position in Federal Signal in the second quarter valued at $245,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

About Federal Signal

Federal Signal Corp. engages in the designed 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 involves in the manufacture and supply of street sweeper vehicles, sewer cleaner, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment.

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