New York, September 18 (FinanceEnquiry.com) – Analysts at Citigroup reiterate their NEUTRAL rating on the shares of Federal Signal Corp (NYSE: FSS). The 12-month target price has marginally been raised from $6.00 to $7.00.
In a research note published on September 17, the analysts mention that even though the transformation of portfolio under Chief Executive Officer (CEO) Dennis Martin seems to be driving a number of improvements, still Federal Signal has a poor operating track record of ten-year and five-year.
In addition to this, on some important metrics such as five year EBIT margins of 4.7 percent against the sector average of 13 percent, inconsistent generation of free cash flow and a drop down in revenue over the past ten years, Federal Signal stays close to the bottom of the MI-EE sector average.
Furthermore, with the 1H12 operating margin high 330 basis points Y/Y to 5.5 percent and management of the Federal Signal maintaining low margin targets of double-digit segment, more latest metrics are ameliorating, the analysts add further.
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