Federal Signal (NYSE:FSS) Sets New 52-Week High on Analyst Upgrade

Federal Signal Corporation (NYSE:FSS - Get Free Report) reached a new 52-week high during trading on Tuesday after DA Davidson raised their price target on the stock from $84.00 to $96.00. DA Davidson currently has a neutral rating on the stock. Federal Signal traded as high as $103.96 and last traded at $102.97, with a volume of 2902 shares changing hands. The stock had previously closed at $102.94.

FSS has been the topic of several other research reports. KeyCorp raised Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 target price on the stock in a research report on Monday, May 12th. Wall Street Zen downgraded Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. Finally, Raymond James Financial reduced their target price on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, April 14th.

Hedge Funds Weigh In On Federal Signal

Several institutional investors and hedge funds have recently bought and sold shares of FSS. Opal Wealth Advisors LLC purchased a new stake in shares of Federal Signal during the 1st quarter valued at $29,000. Bessemer Group Inc. increased its position in Federal Signal by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after buying an additional 185 shares in the last quarter. Signaturefd LLC raised its stake 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 buying an additional 165 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in Federal Signal by 201.8% in the first quarter. Harbor Investment Advisory LLC now owns 658 shares of the conglomerate's stock worth $48,000 after acquiring an additional 440 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of 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 in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Federal Signal Stock Down 0.5%

The company's 50-day moving average is $92.31 and its 200 day moving average is $89.48. The stock has a market capitalization of $6.36 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26. The company has a current ratio of 2.39, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22.

Federal Signal (NYSE:FSS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.03. Federal Signal had a net margin of 11.10% and a return on equity of 18.44%. The business had revenue of $463.80 million during the quarter, compared to analysts' expectations of $462.63 million. During the same quarter last year, the company posted $0.64 earnings per share. The business's quarterly revenue was up 9.2% on a year-over-year basis. As a group, analysts anticipate that Federal Signal Corporation will post 3.34 EPS for the current year.

Federal Signal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a yield of 0.54%. Federal Signal's dividend payout ratio is currently 16.37%.

Federal Signal announced that its board has approved a share buyback program on Tuesday, April 22nd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

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.