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Zacks Investment Research Downgrades Federal Signal (NYSE:FSS) to Sell

Last updated on Wednesday, July 8th, 2020 by MarketBeat

Federal Signal (NYSE:FSS) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, "Federal Signal Corporation (NYSE:FSS) is a leader in environmental and safety solutions. It provides products and services to protect people and the planet. Federal Signal is a leading global designer, manufacturer and supplier of products of and total solutions that serve municipal, governmental, industrial and commercial customers. With manufacturing facilities worldwide, the company operates through the following business segments: Environmental Solutions and Safety and Security Systems. Federal Signal is best known for its variety of emergency lighting, sirens, industrial equipment, and public safety solutions under brands including Federal Signal, Elgin, Guzzler, Jetstream, Vactor and Victor. Federal Signal Corporation is headquartered in Oak Brook, IL. "

Other analysts have also issued reports about the stock. Sidoti lowered shares of Federal Signal from a "buy" rating to a "neutral" rating in a research report on Thursday, April 30th. They noted that the move was a valuation call. ValuEngine upgraded shares of Federal Signal from a "sell" rating to a "hold" rating in a report on Thursday, April 2nd.

Shares of FSS stock traded down $0.75 during mid-day trading on Wednesday, hitting $28.85. 223,200 shares of the stock traded hands, compared to its average volume of 409,285. The stock has a market cap of $1.78 billion, a P/E ratio of 15.51 and a beta of 1.15. The stock's fifty day moving average is $29.55 and its two-hundred day moving average is $29.99. Federal Signal has a 52-week low of $23.32 and a 52-week high of $35.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.33.

Federal Signal (NYSE:FSS) last released its quarterly earnings results on Wednesday, April 29th. The conglomerate reported $0.39 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.33 by $0.06. The business had revenue of $286.10 million during the quarter, compared to analyst estimates of $299.78 million. Federal Signal had a net margin of 9.27% and a return on equity of 18.86%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, equities analysts forecast that Federal Signal will post 1.52 EPS for the current fiscal year.

In related news, CEO Jennifer L. Sherman acquired 1,000 shares of the business's stock in a transaction dated Friday, May 1st. The shares were purchased at an average price of $26.51 per share, for a total transaction of $26,510.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.90% of the company's stock.

Several institutional investors and hedge funds have recently bought and sold shares of FSS. Victory Capital Management Inc. boosted its position in Federal Signal by 59.1% in the 4th quarter. Victory Capital Management Inc. now owns 371,699 shares of the conglomerate's stock worth $11,987,000 after purchasing an additional 138,011 shares in the last quarter. Bank of Montreal Can boosted its position in Federal Signal by 28.7% in the 4th quarter. Bank of Montreal Can now owns 9,443 shares of the conglomerate's stock worth $304,000 after purchasing an additional 2,103 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Federal Signal in the 4th quarter worth approximately $895,000. Prudential Financial Inc. boosted its position in Federal Signal by 1.6% in the 4th quarter. Prudential Financial Inc. now owns 342,986 shares of the conglomerate's stock worth $11,061,000 after purchasing an additional 5,512 shares in the last quarter. Finally, TD Asset Management Inc. boosted its position in Federal Signal by 12.8% in the 4th quarter. TD Asset Management Inc. now owns 9,700 shares of the conglomerate's stock worth $313,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 90.91% of the company's stock.

About Federal Signal

Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through two segments, Environmental Solutions Group and Safety and Security Systems Group.

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