A company insider recently sold 24,000 shares of Federal Signal Corporation [FSS]. Should You Sale?


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Federal Signal Corporation shares valued at $1,163,621 were sold by MARTIN DENNIS J on Nov 22. At $48.48 per share, MARTIN DENNIS J sold 24,000 shares. The insider’s holdings dropped to 570,841 shares worth approximately $33.07 million following the completion of this transaction.

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Also, MARTIN DENNIS J sold 20,000 shares, netting a total of over 983,384 in proceeds. Following the sale of shares at $49.17 each, the insider now holds 594,841 shares.

Before that, SHERMAN JENNIFER L had added 2,800 shares to its account. In a trade valued at $96,880, the President & CEO bought Federal Signal Corporation shares for $34.60 each. Upon closing the transaction, the insider’s holdings increased to 2,800 shares, worth approximately $22.57 million.

As published in a research note from Sidoti on February 23, 2023, Federal Signal Corporation [FSS] has been rated down from a Buy to a Neutral and the price target has been revised to $50. This represents a -15.86% premium over Wednesday’s closing price. Analysts at KeyBanc Capital Markets downgraded the stock from ‘”an Overweight”‘ to ‘”a Sector weight”‘ outlook in a report released in late November. As of October 07, 2022, DA Davidson has increased its “Neutral” rating to a “Buy” for FSS. Earlier on October 14, 2021, DA Davidson initiated its rating. Their recommendation was “a Neutral” for FSS stock.

Analyzing FSS Stock Performance

On Wednesday, Federal Signal Corporation [NYSE: FSS] rose 9.78% to $57.93. The stock’s lowest price that day was $52.49, but it reached a high of $58.15 in the same session. During the last five days, there has been a surge of approximately 9.59%. Over the course of the year, Federal Signal Corporation shares have jumped approximately 24.66%. Shares of the company reached a 52-week high of $58.15 on 03/01/23 and a 52-week low of $45.86 on 01/03/23. A 50-day SMA is recorded $50.69, while a 200-day SMA reached $43.17. Nevertheless, trading volume fell to 0.93 million shares from 0.32 million shares the previous day.

Support And Resistance Levels for Federal Signal Corporation (FSS)

According to the 24-hour chart, there is a support level at 54.23, which, if violated, would cause prices to drop to 50.53. In the upper region, resistance lies at 59.89. The next price resistance is at 61.85. RSI (Relative Strength Index) is 73.13 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.27, which suggests the price will increase in the coming days. Percent R is at 3.38%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Federal Signal Corporation subject to short interest?

Stocks of Federal Signal Corporation saw a sharp rise in short interest on Jan 30, 2023 jumping by 60150.0 shares to 0.9 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 0.84 million shares. A jump of 6.67% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.41 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.41.

Which companies own the most shares of Federal Signal Corporation (FSS)?

According to BlackRock Fund Advisors filings, the company currently owns 8,752,544 shares, which is about 14.43% of the total FSS shares outstanding. The investor’s shares have appreciated by 141,448 from its previous 13-F filing of 8611096.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $276,213,128. Dimensional Fund Advisors LP reduced a -0.09% interest valued at $146.22 million while T. Rowe Price Investment Manageme purchased a 153,325 stake. A total of 51,119 shares of Federal Signal Corporation were bought by Macquarie Investment Management B during the quarter, and -13,137 were sold by Fidelity Management & Research Co. In its current portfolio, SSgA Funds Management, Inc. holds 2,032,045 shares valued at $108.21 million.

In terms of Federal Signal Corporation share price expectations, FactSet research, analysts set an average price target of $50.67 in the next 12 months, down nearly -5.25% from the previous closing price of $52.77. Analysts anticipate Federal Signal Corporation stock to reach $57.00 by 2023, with the lowest price target being $45.00. In spite of this, 3 analysts ranked Federal Signal Corporation stock as an Overweight at the end of 2023. On September 02, 2021, Sidoti assigned a price target of “a Buy” to the stock and upgraded coverage with a $50.


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