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 price objective hoisted by Raymond James Financial from $120.00 to $145.00 in a report issued on Thursday morning,Benzinga reports. Raymond James Financial currently has an outperform rating on the conglomerate's stock.

Several other research firms also recently commented on FSS. KeyCorp reiterated a "sector weight" rating on shares of Federal Signal in a research note on Friday, July 11th. DA Davidson lifted their price target on Federal Signal from $96.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $123.00.

Federal Signal Stock Up 1.5%

FSS traded up $1.86 during trading on Thursday, hitting $124.43. The stock had a trading volume of 473,582 shares, compared to its average volume of 878,928. The stock has a 50 day simple moving average of $105.18 and a two-hundred day simple moving average of $92.41. The company has a market capitalization of $7.56 billion, a PE ratio of 34.66, a PEG ratio of 2.18 and a beta of 1.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 2.60. Federal Signal has a twelve month low of $66.47 and a twelve 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 for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $564.60 million during the quarter, compared to the consensus estimate of $537.24 million. Federal Signal had a return on equity of 18.91% and a net margin of 11.22%. The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. On average, research analysts predict that Federal Signal will post 3.34 earnings per share for the current year.

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

Federal Signal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Friday, August 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, August 15th. Federal Signal's payout ratio is currently 15.60%.

Institutional Investors Weigh In On Federal Signal

A number of institutional investors have recently modified their holdings of FSS. Creative Financial Designs Inc. ADV increased its position in shares of Federal Signal by 41.2% in the second quarter. Creative Financial Designs Inc. ADV now owns 1,580 shares of the conglomerate's stock valued at $168,000 after buying an additional 461 shares in the last quarter. BLB&B Advisors LLC purchased a new stake in Federal Signal in the 2nd quarter worth $221,000. Atria Investments Inc raised its position in Federal Signal by 65.0% during the second quarter. Atria Investments Inc now owns 5,181 shares of the conglomerate's stock worth $551,000 after acquiring an additional 2,041 shares during the period. Spire Wealth Management grew its position in shares of Federal Signal by 32.3% in the second quarter. Spire Wealth Management now owns 2,668 shares of the conglomerate's stock valued at $284,000 after purchasing an additional 651 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Federal Signal by 19.1% during the second quarter. Envestnet Asset Management Inc. now owns 226,161 shares of the conglomerate's stock worth $24,068,000 after purchasing an additional 36,242 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Federal Signal Company Profile

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.