Federal Signal (NYSE:FSS) Stock Price Target Cut by Citigroup

Federal Signal (NYSE:FSS) had its target price decreased by stock analysts at Citigroup from $150.00 to $135.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. Citigroup‘s price objective suggests a potential upside of 14.68% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Weiss Ratings upgraded Federal Signal from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Zacks Research downgraded Federal Signal from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Wall Street Zen cut shares of Federal Signal from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, DA Davidson decreased their price objective on shares of Federal Signal from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Monday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.25.

Federal Signal Stock Performance

Shares of FSS traded up $5.05 during midday trading on Monday, reaching $117.72. 201,392 shares of the stock were exchanged, compared to its average volume of 473,351. The stock’s 50 day simple moving average is $115.33 and its 200 day simple moving average is $115.71. Federal Signal has a twelve month low of $101.18 and a twelve month high of $134.51. The company has a quick ratio of 1.35, a current ratio of 2.96 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.18 billion, a P/E ratio of 24.41, a PEG ratio of 1.34 and a beta of 1.22.

Federal Signal (NYSE:FSS) last released its earnings results on Thursday, October 29th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. Federal Signal had a net margin of 11.65% and a return on equity of 21.31%. The company had revenue of $655.50 million for the quarter, compared to the consensus estimate of $661.61 million. During the same quarter in the previous year, the company earned $1.14 EPS. Federal Signal’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, sell-side analysts expect that Federal Signal will post 5.25 earnings per share for the current year.

Insider Activity

In related news, VP Diane Bonina sold 14,856 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $130.44, for a total value of $1,937,816.64. Following the completion of the transaction, the vice president directly owned 15,689 shares in the company, valued at approximately $2,046,473.16. This represents a 48.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Federal Signal

A number of hedge funds and other institutional investors have recently bought and sold shares of FSS. BlackRock Inc. bought a new position in Federal Signal in the second quarter worth about $1,236,004,000. Dimensional Fund Advisors LP raised its stake in shares of Federal Signal by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,208,087 shares of the conglomerate’s stock worth $130,633,000 after buying an additional 3,546 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Federal Signal by 12.0% during the 1st quarter. First Trust Advisors LP now owns 1,161,865 shares of the conglomerate’s stock valued at $125,644,000 after acquiring an additional 124,270 shares during the last quarter. Congress Asset Management Co. lifted its stake in Federal Signal by 23.2% during the third quarter. Congress Asset Management Co. now owns 894,846 shares of the conglomerate’s stock valued at $99,140,000 after buying an additional 168,708 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Federal Signal by 11.2% in the first quarter. Bank of America Corp DE now owns 682,765 shares of the conglomerate’s stock worth $73,834,000 after purchasing an additional 68,736 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Federal Signal Company Profile

Federal Signal Corporation (NYSE:FSS) designs and manufactures equipment and systems used by municipalities, government agencies, industrial organizations and commercial customers. Its products support public safety, infrastructure maintenance, environmental protection and emergency response activities.

The company operates through two principal business areas: Environmental Solutions and Safety and Security Systems. Environmental Solutions products include street sweepers, sewer cleaners, vacuum trucks, hydro-excavation equipment, dump bodies and snow and ice control equipment.