Federal Signal Co. (NYSE:FSS) Sees Large Drop in Short Interest

Federal Signal Co. (NYSE:FSS) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 2,760,000 shares, a decline of 6.4% from the January 15th total of 2,950,000 shares. Approximately 4.7% of the shares of the company are short sold. Based on an average daily trading volume, of 390,000 shares, the days-to-cover ratio is currently 7.1 days.

Wall Street Analyst Weigh In

FSS has been the subject of several analyst reports. DA Davidson decreased their price objective on Federal Signal from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Raymond James reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Federal Signal in a report on Tuesday, December 24th. Finally, StockNews.com cut Federal Signal from a “buy” rating to a “hold” rating in a report on Thursday, February 13th.

Federal Signal Stock Performance

NYSE FSS opened at $98.62 on Wednesday. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.84 and a beta of 1.01. Federal Signal has a twelve month low of $76.85 and a twelve month high of $102.18. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $95.83 and a 200 day moving average of $92.86.

Hedge Funds Weigh In On Federal Signal

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Federal Signal by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 7,247,803 shares of the conglomerate’s stock worth $669,625,000 after buying an additional 93,597 shares in the last quarter. State Street Corp increased its stake in Federal Signal by 1.1% during the 3rd quarter. State Street Corp now owns 2,293,775 shares of the conglomerate’s stock worth $214,376,000 after buying an additional 25,080 shares in the last quarter. Invesco Ltd. increased its stake in Federal Signal by 12.4% during the 4th quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate’s stock worth $203,184,000 after buying an additional 242,840 shares in the last quarter. Geode Capital Management LLC increased its stake in Federal Signal by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,630,971 shares of the conglomerate’s stock worth $150,715,000 after buying an additional 29,197 shares in the last quarter. Finally, FMR LLC increased its stake in Federal Signal by 19.4% during the 4th quarter. FMR LLC now owns 1,469,614 shares of the conglomerate’s stock worth $135,778,000 after buying an additional 238,608 shares in 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.