Federal Signal Co. (NYSE:FSS) Short Interest Up 23.6% in September

Federal Signal Co. (NYSE:FSS) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 1,310,000 shares, a growth of 23.6% from the August 30th total of 1,060,000 shares. Based on an average daily volume of 383,800 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.2% of the shares of the company are sold short.

FSS stock traded up $1.15 during trading on Friday, hitting $32.09. The company had a trading volume of 400,308 shares, compared to its average volume of 452,535. The company has a fifty day moving average price of $31.27 and a two-hundred day moving average price of $28.04. The company has a current ratio of 2.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.85 billion, a P/E ratio of 22.44 and a beta of 1.60. Federal Signal has a fifty-two week low of $18.59 and a fifty-two week high of $34.12.

Federal Signal (NYSE:FSS) last announced its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. The business had revenue of $324.30 million for the quarter, compared to analyst estimates of $305.40 million. Federal Signal had a return on equity of 17.99% and a net margin of 9.11%. Federal Signal’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, analysts expect that Federal Signal will post 1.72 earnings per share for the current year.

In other news, VP Svetlana Vinokur sold 10,818 shares of Federal Signal stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $32.30, for a total transaction of $349,421.40. Following the sale, the vice president now owns 23,774 shares of the company’s stock, valued at approximately $767,900.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard R. Mudge sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $29.50, for a total value of $295,000.00. Following the completion of the sale, the director now directly owns 87,678 shares in the company, valued at approximately $2,586,501. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $3,538,690 in the last three months. 4.00% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in FSS. Point72 Asset Management L.P. acquired a new stake in Federal Signal in the 2nd quarter valued at $40,000. Parallel Advisors LLC boosted its stake in Federal Signal by 43.8% in the second quarter. Parallel Advisors LLC now owns 2,300 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 700 shares in the last quarter. Nordea Investment Management AB acquired a new position in Federal Signal in the first quarter worth $133,000. Contravisory Investment Management Inc. acquired a new position in Federal Signal in the third quarter worth $145,000. Finally, Bank of Montreal Can boosted its stake in Federal Signal by 330.1% in the second quarter. Bank of Montreal Can now owns 7,126 shares of the conglomerate’s stock worth $191,000 after purchasing an additional 5,469 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently commented on FSS. Zacks Investment Research lowered Federal Signal from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine lowered Federal Signal from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.

Federal Signal Company Profile

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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