Federal Signal (NYSE:FSS) Cut to Hold at 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 Wednesday, 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. “

FSS has been the topic of a number of other research reports. Colliers Securities reissued a “buy” rating on shares of Federal Signal in a report on Thursday, July 1st. Raymond James boosted their target price on Federal Signal from $45.00 to $48.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 5th.

FSS traded up $0.48 during trading on Wednesday, hitting $39.04. 112,296 shares of the stock were exchanged, compared to its average volume of 237,090. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 1.38 and a beta of 1.07. Federal Signal has a 1-year low of $28.03 and a 1-year high of $43.77. The company’s fifty day simple moving average is $40.78. The company has a quick ratio of 1.20, a current ratio of 2.43 and a debt-to-equity ratio of 0.31.

Federal Signal (NYSE:FSS) last released its earnings results on Tuesday, May 4th. The conglomerate reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.05. The business had revenue of $278.80 million for the quarter, compared to analyst estimates of $279.07 million. Federal Signal had a return on equity of 14.81% and a net margin of 8.46%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, analysts forecast that Federal Signal will post 1.83 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Navis Wealth Advisors LLC purchased a new stake in Federal Signal during the fourth quarter worth $25,000. Sage Private Wealth Group LLC purchased a new stake in Federal Signal during the fourth quarter worth $28,000. Lazard Asset Management LLC purchased a new stake in Federal Signal during the fourth quarter worth $28,000. Vantage Consulting Group Inc purchased a new stake in Federal Signal during the fourth quarter worth $30,000. Finally, Eaton Vance Management purchased a new stake in Federal Signal during the first quarter worth $83,000. 90.09% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Closed-End Mutual Funds

Get a free copy of the Zacks research report on Federal Signal (FSS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Federal Signal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Federal Signal and related companies with MarketBeat.com's FREE daily email newsletter.