DA Davidson Forecasts Strong Price Appreciation for Federal Signal (NYSE:FSS) Stock

Federal Signal (NYSE:FSS - Free Report) had its target price lifted by DA Davidson from $84.00 to $96.00 in a research note published on Tuesday morning,Benzinga reports. DA Davidson currently has a neutral rating on the conglomerate's stock.

Several other brokerages have also commented on FSS. Wall Street Zen lowered shares of Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. Raymond James Financial reduced their price objective on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, KeyCorp upgraded shares of Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price target for the company in a research report on Monday, May 12th.

Federal Signal Trading Down 1.1%

Shares of FSS traded down $1.09 during midday trading on Tuesday, hitting $102.65. 420,776 shares of the stock were exchanged, compared to its average volume of 449,105. The firm has a market cap of $6.26 billion, a P/E ratio of 30.01, a P/E/G ratio of 1.92 and a beta of 1.26. Federal Signal has a 52-week low of $66.47 and a 52-week high of $104.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.39. The stock has a fifty day simple moving average of $91.16 and a 200 day simple moving average of $89.34.

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 for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. The company had revenue of $463.80 million during the quarter, compared to analysts' expectations of $462.63 million. Federal Signal had a return on equity of 18.44% and a net margin of 11.10%. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, research analysts anticipate that Federal Signal will post 3.34 EPS for the current fiscal year.

Federal Signal declared that its Board of Directors has authorized a stock buyback program on Tuesday, April 22nd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Federal Signal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, May 16th. Federal Signal's dividend payout ratio (DPR) is 16.37%.

Institutional Investors Weigh In On Federal Signal

Several hedge funds have recently modified their holdings of FSS. Opal Wealth Advisors LLC purchased a new position in Federal Signal during the first quarter worth approximately $29,000. Bessemer Group Inc. increased its holdings in shares of Federal Signal by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock worth $31,000 after buying an additional 185 shares during the last quarter. Harbor Investment Advisory LLC raised its position 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 worth $48,000 after buying an additional 440 shares during the period. Signaturefd LLC boosted its holdings in Federal Signal by 37.4% in the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after acquiring an additional 165 shares during the last quarter. Finally, CoreCap Advisors LLC grew its position in Federal Signal by 19.9% during the fourth quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after acquiring an additional 145 shares during the period. 92.73% of the stock is 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.