Zacks Investment Research cut shares of Federal Signal (NYSE:FSS) from a strong-buy rating to a hold rating in a research report report published on Tuesday.

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. “

Shares of FSS stock traded down $0.33 during trading hours on Tuesday, reaching $23.77. 234,734 shares of the company were exchanged, compared to its average volume of 271,959. Federal Signal has a fifty-two week low of $18.37 and a fifty-two week high of $28.32. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 27.96 and a beta of 1.31. The company has a current ratio of 2.15, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

Federal Signal (NYSE:FSS) last announced its quarterly earnings data on Tuesday, August 7th. The conglomerate reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.12. Federal Signal had a net margin of 7.97% and a return on equity of 15.24%. The business had revenue of $291.00 million for the quarter, compared to analyst estimates of $271.83 million. On average, equities research analysts forecast that Federal Signal will post 1.32 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Federal Signal by 7.3% in the second quarter. BlackRock Inc. now owns 8,186,182 shares of the conglomerate’s stock valued at $190,654,000 after purchasing an additional 555,538 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new stake in Federal Signal in the second quarter valued at approximately $8,911,000. Intrinsic Edge Capital Management LLC bought a new stake in Federal Signal in the second quarter valued at approximately $8,859,000. First Trust Advisors LP increased its stake in Federal Signal by 468.9% in the second quarter. First Trust Advisors LP now owns 231,222 shares of the conglomerate’s stock valued at $5,385,000 after purchasing an additional 190,575 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Federal Signal by 11.9% in the second quarter. Macquarie Group Ltd. now owns 1,760,311 shares of the conglomerate’s stock valued at $40,998,000 after purchasing an additional 187,150 shares in the last quarter. Institutional investors and hedge funds own 87.76% 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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