KeyBanc Downgrades Federal Signal (FSS) to Sector Weight

KeyBanc downgraded Federal Signal (NYSE: FSS) from Overweight to Sector Weight after the stock reached analyst Steve Barger's $17 price target.

"Despite what has been a fairly lackluster rev. growth env’t overall, we think mgmt deserves credit for driving op. margin expansion, delevering the balance sheet, and improving FCF. Investors have been amply rewarded during this process, with the share price climbing ~167% from early December 2012 vs. the SP 500’s 47%," said Barger.

For an analyst ratings summary and ratings history on Federal Signal click here. For more ratings news on Federal Signal click here.

Shares of Federal Signal closed at $15.72 yesterday.

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