NEW YORK (TheStreet) --Shares of Federal Signal Corp. (FSS - Get Report) are higher by 5.32% to $14.46 in mid-afternoon trading on Tuesday, after the company reported an increase in adjusted net income to $17.1 million, or 27 cents per dilutes share for the 2014 second quarter, compared to $10.7 million, or 17 cents per diluted share for the comparable 2013 period.
The company, which designs and manufactures products and integrated solutions for municipal, governmental, industrial, and commercial customers, said consolidated net sales grew 5% to $234.6 million versus $222.6 million for the 2013 second quarter.
Federal Signal also raised its full year earnings outlook to a range of 83 cents to 87 cents per share, compared to the company's previous guidance of 79 cents per share.
TheStreet Ratings team rates FEDERAL SIGNAL CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FEDERAL SIGNAL CORP (FSS) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins."