Federal Signal Corporation FSS recently entered into a deal to buy substantially all operations and assets of each of Deist Industries, Inc., Roll-Off Parts, LLC, Bucks Fabricating, LLC as well as Switch-N-Go, LLC (altogether “Deist”). As noted, the initial purchase price has been set at $32.5 million. The deal also includes a contingent earn-out payment of a maximum of $7.5 million, subject to the fulfillment of certain financial targets.Federal Signal’s shares gained 2.9% yesterday to eventually close the trading session at $47.32.Pennsylvania-based Deist is engaged in providing interchangeable truck body systems for class 3-7 vehicles. The company’s offerings also include a complete line of waste hauling products that comprises the likes of specialty roll-off and front/rear loading containers. Over the past year, it generated about $41 million of revenues along with a double-digit EBITDA margin.Benefits of the BuyoutThe acquisition will enable Federal Signal to strengthen its position in the landscaping and waste hauling space. The company expects the buyout to help it expand its product line and offer advanced new products and solutions to its customers, with improved product distribution.The buyout, which is expected to be completed by 2021-end, subject to certain regulatory approvals, is expected to be accretive in the first year of the completion.EarningsSimultaneously, Federal Signal announced third-quarter 2021 results. In the quarter, the company’s adjusted earnings came in at 48 cents per share, beating the Zacks Consensus Estimate of 46 cents by 4.4%. The bottom line also increased 14.3% from the year-ago figure of 42 cents. Its net sales were $298 million, increasing 7%. However, the top line missed the Zacks Consensus Estimate of $324 million.In the quarters ahead, the company expects to benefit from higher orders for its products, driven by strengthening end markets. However, it anticipates supply chain constraints to continue adversely impacting its production, which, in turn, might hurt its profitability. For 2021, it predicts adjusted earnings to lie in the range of $1.68-$1.78.Image Source: Zacks Investment ResearchIn the past three months, the Zacks Rank #3 (Hold) company’s share price increased 17.9% against the industry’s decline of 7.3%.Stocks to ConsiderSome better-ranked stocks from the same space are Carlisle Companies Incorporated CSL, Crane Co. CR, and LSB Industries, Inc. LXU, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Carlisle delivered an earnings surprise of 38.89%, on average, in the trailing four quarters.Crane delivered an earnings surprise of 22.02%, on average, in the trailing four quarters.LSB Industries delivered an earnings surprise of 15.86%, on average, in the trailing four quarters. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lsb Industries Inc. (LXU): Free Stock Analysis Report Carlisle Companies Incorporated (CSL): Free Stock Analysis Report Federal Signal Corporation (FSS): Free Stock Analysis Report Crane Co. (CR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research