KeyCorp Reaffirms "Sector Weight" Rating for Federal Signal (NYSE:FSS)

Federal Signal (NYSE:FSS - Get Free Report)'s stock had its "sector weight" rating restated by equities research analysts at KeyCorp in a note issued to investors on Friday, MarketBeat.com reports.

A number of other equities research analysts have also commented on the company. Raymond James Financial set a $120.00 price target on Federal Signal and gave the company an "outperform" rating in a research report on Monday, June 30th. DA Davidson upped their price target on Federal Signal from $84.00 to $96.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th.

Federal Signal Price Performance

Shares of Federal Signal stock traded down $3.05 during trading on Friday, reaching $110.03. 1,128,138 shares of the company's stock were exchanged, compared to its average volume of 466,684. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.39. Federal Signal has a 1-year low of $66.47 and a 1-year high of $114.40. The company has a market cap of $6.71 billion, a P/E ratio of 32.17, a PEG ratio of 2.11 and a beta of 1.27. The firm's 50-day moving average price is $99.54 and its 200 day moving average price is $90.66.

Federal Signal (NYSE:FSS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, topping 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%. Federal Signal's revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. As a group, research analysts anticipate that Federal Signal will post 3.34 earnings per share for the current year.

Federal Signal announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 22nd that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the conglomerate to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Federal Signal

Institutional investors and hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System boosted its position in shares of Federal Signal by 0.6% during the 4th quarter. California Public Employees Retirement System now owns 89,654 shares of the conglomerate's stock valued at $8,283,000 after purchasing an additional 514 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Federal Signal by 21.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 15,641 shares of the conglomerate's stock worth $1,150,000 after purchasing an additional 2,724 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Federal Signal by 78.4% in the first quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Federal Signal by 66.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,067 shares of the conglomerate's stock valued at $814,000 after acquiring an additional 4,405 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Federal Signal in the fourth quarter valued at approximately $36,636,000. Institutional investors own 92.73% of the company's stock.

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.