Federal Signal (NYSE:FSS) Rating Increased to Overweight at KeyCorp

KeyCorp upgraded shares of Federal Signal (NYSE:FSS) from a sector weight rating to an overweight rating in a report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $110.00 price objective on the conglomerate’s stock.

FSS has been the subject of a number of other reports. StockNews.com lowered shares of Federal Signal from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. DA Davidson lifted their price target on shares of Federal Signal from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Finally, Raymond James dropped their price target on shares of Federal Signal from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.00.

Federal Signal Stock Performance

FSS stock opened at $93.65 on Monday. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.85 and a beta of 1.23. The firm has a 50-day simple moving average of $78.00 and a two-hundred day simple moving average of $88.09. Federal Signal has a one year low of $66.47 and a one year high of $102.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 2.83.

Federal Signal (NYSE:FSS) last announced its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. The firm had revenue of $463.80 million during the quarter, compared to analyst estimates of $462.63 million. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. Federal Signal’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. On average, equities analysts forecast that Federal Signal will post 3.34 EPS for the current fiscal year.

Federal Signal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.60%. Federal Signal’s dividend payout ratio is presently 16.37%.

Federal Signal declared that its board has approved a stock repurchase program on Tuesday, April 22nd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes 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 shares are undervalued.

Insider Activity at Federal Signal

In related news, CEO Jennifer L. Sherman acquired 1,250 shares of Federal Signal stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $82.32 per share, for a total transaction of $102,900.00. Following the acquisition, the chief executive officer now owns 559,183 shares in the company, valued at approximately $46,031,944.56. This represents a 0.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FSS. California Public Employees Retirement System increased its stake in 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 buying an additional 514 shares during the period. Barclays PLC boosted its position in Federal Signal by 338.7% in the 3rd quarter. Barclays PLC now owns 145,188 shares of the conglomerate’s stock valued at $13,569,000 after buying an additional 112,092 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Federal Signal by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 780,513 shares of the conglomerate’s stock worth $72,112,000 after acquiring an additional 11,466 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Federal Signal by 84.1% in the fourth quarter. Victory Capital Management Inc. now owns 219,147 shares of the conglomerate’s stock worth $20,247,000 after acquiring an additional 100,135 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Federal Signal in the fourth quarter worth $36,636,000. Hedge funds and other 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.