Federal Signal (NYSE:FSS) Cut to Hold at StockNews.com

Federal Signal (NYSE:FSS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, DA Davidson lowered their target price on Federal Signal from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th.

Federal Signal Trading Up 0.0 %

NYSE:FSS traded up $0.03 on Friday, hitting $91.80. The stock had a trading volume of 730,514 shares, compared to its average volume of 356,561. The company has a fifty day moving average price of $92.00 and a two-hundred day moving average price of $90.74. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 26.61 and a beta of 0.99. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. Federal Signal has a 1-year low of $71.29 and a 1-year high of $102.18.

Federal Signal (NYSE:FSS) last released its quarterly earnings results on Thursday, October 31st. The conglomerate reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The business had revenue of $474.20 million during the quarter, compared to analysts’ expectations of $481.71 million. During the same period in the prior year, the business posted $0.71 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that Federal Signal will post 3.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Federal Signal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSS. ArrowMark Colorado Holdings LLC purchased a new position in Federal Signal in the 3rd quarter valued at about $28,863,000. Geode Capital Management LLC grew its holdings in shares of Federal Signal by 17.6% during the third quarter. Geode Capital Management LLC now owns 1,601,774 shares of the conglomerate’s stock valued at $149,727,000 after buying an additional 239,789 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Federal Signal by 113.4% during the third quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate’s stock worth $37,200,000 after acquiring an additional 211,555 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Federal Signal by 77.8% in the 2nd quarter. Millennium Management LLC now owns 445,776 shares of the conglomerate’s stock valued at $37,298,000 after purchasing an additional 195,017 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in shares of Federal Signal by 20.3% in the second quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate’s stock worth $76,340,000 after buying an additional 153,765 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

About Federal Signal

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.