Federal Signal (NYSE:FSS) Receives Sector Weight Rating from KeyCorp

Federal Signal (NYSE:FSS - Get Free Report)'s stock had its "sector weight" rating reissued by KeyCorp in a report released on Friday, MarketBeat reports.

Several other research firms have also recently weighed in on FSS. Raymond James Financial set a $120.00 price target on shares of Federal Signal and gave the company an "outperform" rating in a report on Monday, June 30th. DA Davidson increased their price target on shares of Federal Signal from $84.00 to $96.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th.

Federal Signal Stock Performance

Shares of FSS stock traded down $2.19 on Friday, reaching $107.93. The stock had a trading volume of 760,625 shares, compared to its average volume of 468,266. The company has a quick ratio of 1.09, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The firm's 50-day moving average is $99.54 and its two-hundred day moving average is $90.61. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 2.05 and a beta of 1.27. Federal Signal has a 12 month low of $66.47 and a 12 month high of $114.40.

Federal Signal (NYSE:FSS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. The company had revenue of $463.80 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, research analysts expect that Federal Signal will post 3.34 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System grew 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 worth $8,283,000 after purchasing an additional 514 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Federal Signal by 21.1% during the 1st 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 in the last quarter. Bessemer Group Inc. grew its position 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 purchasing an additional 185 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Federal Signal by 66.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,067 shares of the conglomerate's stock worth $814,000 after purchasing an additional 4,405 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Federal Signal during the 4th quarter worth approximately $36,636,000. Institutional investors and hedge funds 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.