Federal Signal Corporation (NYSE:FSS - Get Free Report)'s share price hit a new 52-week high on Monday after Raymond James Financial raised their price target on the stock from $100.00 to $120.00. Raymond James Financial currently has an outperform rating on the stock. Federal Signal traded as high as $106.33 and last traded at $106.12, with a volume of 91980 shares changing hands. The stock had previously closed at $104.45.
FSS has been the subject of a number of other reports. KeyCorp upgraded Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price objective for the company in a research report on Monday, May 12th. DA Davidson lifted their price target on shares of Federal Signal from $84.00 to $96.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th.
Read Our Latest Stock Analysis on FSS
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of FSS. Bank of New York Mellon Corp lifted its holdings in shares of Federal Signal by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 502,173 shares of the conglomerate's stock valued at $46,396,000 after purchasing an additional 36,616 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Federal Signal by 182.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the conglomerate's stock valued at $127,000 after acquiring an additional 891 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Federal Signal by 15.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock worth $124,000 after acquiring an additional 181 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Federal Signal by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 780,513 shares of the conglomerate's stock valued at $72,112,000 after buying an additional 11,466 shares during the last quarter. Finally, Alta Capital Management LLC acquired a new position in shares of Federal Signal during the 4th quarter worth about $6,139,000. Institutional investors own 92.73% of the company's stock.
Federal Signal Price Performance
The business has a fifty day moving average of $92.90 and a 200 day moving average of $89.47. The company has a quick ratio of 1.09, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The firm has a market cap of $6.48 billion, a P/E ratio of 31.05, a PEG ratio of 1.95 and a beta of 1.26.
Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.03. Federal Signal had a net margin of 11.10% and a return on equity of 18.44%. The firm had revenue of $463.80 million during the quarter, compared to the consensus estimate of $462.63 million. During the same period last year, the business posted $0.64 earnings per share. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Federal Signal Corporation will post 3.34 earnings per share for the current year.
Federal Signal Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, May 16th. Federal Signal's dividend payout ratio (DPR) is presently 16.37%.
Federal Signal declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 22nd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the conglomerate to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.
About Federal Signal
(
Get Free Report)
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.
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