Federal Signal (NYSE:FSS) Given New $100.00 Price Target at DA Davidson

Federal Signal (NYSE:FSS - Free Report) had its price objective lifted by DA Davidson from $96.00 to $100.00 in a research report sent to investors on Tuesday morning,Benzinga reports. DA Davidson currently has a neutral rating on the conglomerate's stock.

A number of other equities analysts have also weighed in on the stock. Raymond James Financial set a $120.00 price target on shares of Federal Signal and gave the stock an "outperform" rating in a research report on Monday, June 30th. KeyCorp reaffirmed a "sector weight" rating on shares of Federal Signal in a research note on Friday, July 11th.

Federal Signal Price Performance

FSS traded up $1.18 on Tuesday, reaching $108.66. 524,767 shares of the company's stock were exchanged, compared to its average volume of 554,225. The stock has a market cap of $6.62 billion, a PE ratio of 31.77, a P/E/G ratio of 2.02 and a beta of 1.27. Federal Signal has a twelve month low of $66.47 and a twelve month high of $114.40. The stock's fifty day moving average price is $102.59 and its 200-day moving average price is $91.56. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 1.09.

Federal Signal (NYSE:FSS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.03. The firm had revenue of $463.80 million for the quarter, compared to analyst estimates of $462.63 million. Federal Signal had a net margin of 11.10% and a return on equity of 18.44%. Federal Signal's quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. Sell-side analysts expect that Federal Signal will post 3.34 EPS for the current year.

Federal Signal declared that its Board of Directors has approved a share repurchase program on Tuesday, April 22nd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the conglomerate to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Federal Signal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, August 15th. Federal Signal's dividend payout ratio (DPR) is presently 16.37%.

Hedge Funds Weigh In On Federal Signal

Institutional investors have recently bought and sold shares of the company. Physician Wealth Advisors Inc. raised its stake in shares of Federal Signal by 47.0% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 291 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 93 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Federal Signal in the 1st quarter valued at approximately $29,000. Bessemer Group Inc. raised its stake in shares of Federal Signal by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 185 shares during the period. Signaturefd LLC raised its stake in shares of Federal Signal by 37.4% in the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after acquiring an additional 165 shares during the period. Finally, Harbor Investment Advisory LLC raised its stake in shares of Federal Signal by 201.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 658 shares of the conglomerate's stock valued at $48,000 after acquiring an additional 440 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.