Wall Street brokerages forecast that Fastenal (NASDAQ:FAST) will post $1.41 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Fastenal’s earnings, with estimates ranging from $1.39 billion to $1.45 billion. Fastenal posted sales of $1.38 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.2%. The company is scheduled to announce its next earnings report before the market opens on Tuesday, October 13th.
On average, analysts expect that Fastenal will report full-year sales of $5.61 billion for the current financial year, with estimates ranging from $5.51 billion to $5.68 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.88 billion, with estimates ranging from $5.49 billion to $6.03 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Fastenal.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, July 14th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. Fastenal had a net margin of 15.07% and a return on equity of 31.19%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the business earned $0.36 EPS. Fastenal’s quarterly revenue was up 10.3% compared to the same quarter last year.
FAST has been the subject of several analyst reports. Wells Fargo & Company lowered shares of Fastenal from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Thursday, September 3rd. They noted that the move was a valuation call. BidaskClub lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Thursday, September 10th. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Tuesday, August 4th. JPMorgan Chase & Co. upgraded shares of Fastenal from an “underweight” rating to a “neutral” rating and set a $34.00 target price on the stock in a report on Tuesday, June 23rd. Finally, ValuEngine upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $43.18.
FAST stock opened at $44.26 on Thursday. The company has a current ratio of 4.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.15. Fastenal has a 1 year low of $26.72 and a 1 year high of $49.86. The company has a fifty day simple moving average of $47.24 and a 200 day simple moving average of $40.34. The firm has a market cap of $25.39 billion, a PE ratio of 30.52, a PEG ratio of 3.35 and a beta of 1.18.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, July 28th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. Fastenal’s payout ratio is 72.46%.
In related news, VP Leland J. Hein sold 9,100 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $44.37, for a total value of $403,767.00. Following the sale, the vice president now owns 19,032 shares of the company’s stock, valued at $844,449.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James C. Jansen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00. Following the completion of the sale, the executive vice president now directly owns 40,176 shares in the company, valued at approximately $1,830,016.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,434 shares of company stock worth $4,682,700. Insiders own 0.57% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacitti Group Inc. bought a new stake in Fastenal in the second quarter valued at about $26,000. Royal Fund Management LLC bought a new stake in Fastenal in the first quarter valued at about $31,000. Barrett Asset Management LLC bought a new stake in Fastenal in the second quarter valued at about $34,000. Balentine LLC bought a new stake in Fastenal in the first quarter valued at about $41,000. Finally, Security National Trust Co. boosted its position in Fastenal by 98.6% in the first quarter. Security National Trust Co. now owns 1,648 shares of the company’s stock valued at $51,000 after buying an additional 818 shares in the last quarter. 77.18% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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