Federal Signal (NYSE:FSS) Price Target Raised to $145.00

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Federal Signal (NYSE:FSS - Free Report) had its target price lifted by Raymond James Financial from $120.00 to $145.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the conglomerate's stock.

Other analysts also recently issued reports about the stock. KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. DA Davidson increased their price objective on shares of Federal Signal from $96.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $123.00.

Federal Signal Stock Down 3.2%

Shares of NYSE FSS traded down $4.09 during trading hours on Thursday, hitting $122.48. 1,064,348 shares of the stock were exchanged, compared to its average volume of 825,709. The company has a quick ratio of 1.09, a current ratio of 2.60 and a debt-to-equity ratio of 0.20. The company has a market cap of $7.47 billion, a PE ratio of 34.12, a PEG ratio of 2.63 and a beta of 1.27. The firm has a fifty day moving average price of $105.18 and a 200-day moving average price of $92.47. Federal Signal has a 12 month low of $66.47 and a 12 month high of $128.50.

Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.11. Federal Signal had a net margin of 11.22% and a return on equity of 18.91%. The business had revenue of $564.60 million for the quarter, compared to analyst estimates of $537.24 million. During the same quarter in the prior year, the business posted $0.95 EPS. Federal Signal's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts expect that Federal Signal will post 3.34 EPS for the current year.

Federal Signal declared that its board has approved a stock buyback plan on Tuesday, April 22nd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Federal Signal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Friday, August 15th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.56 annualized dividend and a dividend yield of 0.5%. Federal Signal's dividend payout ratio (DPR) is presently 15.60%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors acquired a new position in shares of Federal Signal in the 4th quarter valued at $79,810,000. Norges Bank purchased a new stake in shares of Federal Signal during the 4th quarter worth $78,192,000. Nuveen LLC purchased a new stake in shares of Federal Signal during the 1st quarter worth $45,307,000. Congress Asset Management Co. purchased a new stake in shares of Federal Signal during the 2nd quarter worth $51,945,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Federal Signal by 1,266.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 464,593 shares of the conglomerate's stock worth $34,171,000 after purchasing an additional 430,583 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

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.