DA Davidson Raises Federal Signal (NYSE:FSS) Price Target to $84.00

by · The Cerbat Gem

Federal Signal (NYSE:FSS – Get Free Report) had its price target hoisted by stock analysts at DA Davidson from $82.00 to $84.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the conglomerate’s stock. DA Davidson’s price objective would suggest a potential downside of 4.08% from the company’s previous close.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of Federal Signal from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Raymond James cut their price objective on Federal Signal from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, April 14th.

Read Our Latest Research Report on Federal Signal

Federal Signal Stock Up 1.2 %

Shares of FSS stock traded up $1.00 during mid-day trading on Monday, reaching $87.58. 225,574 shares of the company’s stock traded hands, compared to its average volume of 431,057. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $76.98 and its 200-day moving average price is $87.96. The company has a market cap of $5.35 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.85 and a beta of 1.11. Federal Signal has a 12 month low of $66.47 and a 12 month high of $102.18.

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

Federal Signal announced that its board has approved a share repurchase program on Tuesday, April 22nd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the conglomerate to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Federal Signal

In related news, CEO Jennifer L. Sherman acquired 1,250 shares of Federal Signal stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $82.32 per share, for a total transaction of $102,900.00. Following the completion of the transaction, the chief executive officer now directly owns 559,183 shares in the company, valued at approximately $46,031,944.56. This represents a 0.22 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors bought a new stake in shares of Federal Signal in the fourth quarter worth about $79,810,000. Norges Bank bought a new stake in Federal Signal in the 4th quarter worth approximately $78,192,000. Raymond James Financial Inc. purchased a new stake in shares of Federal Signal during the 4th quarter worth approximately $36,636,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Federal Signal during the 1st quarter valued at approximately $26,144,000. Finally, First Trust Advisors LP grew its holdings in shares of Federal Signal by 56.5% in the fourth quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate’s stock valued at $82,609,000 after purchasing an additional 322,676 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

About Federal Signal

(Get Free Report)

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.

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