Analysts expect Fastenal (NASDAQ:FAST) to post sales of $1.18 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Fastenal’s earnings, with the lowest sales estimate coming in at $1.16 billion and the highest estimate coming in at $1.20 billion. Fastenal posted sales of $1.05 billion during the same quarter last year, which suggests a positive year over year growth rate of 12.4%. The business is expected to report its next earnings report before the market opens on Wednesday, April 11th.
According to Zacks, analysts expect that Fastenal will report full year sales of $1.18 billion for the current year, with estimates ranging from $4.78 billion to $4.96 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.23 billion per share, with estimates ranging from $5.11 billion to $5.35 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Fastenal.
Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS.
FAST has been the subject of several recent analyst reports. Robert W. Baird reissued a “buy” rating on shares of Fastenal in a report on Wednesday, January 17th. Goldman Sachs initiated coverage on shares of Fastenal in a report on Sunday, March 18th. They set a “sell” rating and a $49.00 price objective for the company. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Credit Suisse Group raised shares of Fastenal to a “buy” rating and set a $61.00 price objective for the company in a report on Thursday, January 18th. Finally, Stephens raised their price objective on shares of Fastenal from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $54.07.
FAST stock traded down $1.94 during mid-day trading on Monday, hitting $53.65. 2,816,423 shares of the company were exchanged, compared to its average volume of 2,428,126. The firm has a market cap of $15,990.33, a P/E ratio of 27.80, a P/E/G ratio of 1.57 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.51 and a quick ratio of 2.40. Fastenal has a twelve month low of $39.79 and a twelve month high of $58.74.
In other Fastenal news, insider Charles S. Miller sold 26,250 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the transaction, the insider now directly owns 26,250 shares of the company’s stock, valued at approximately $1,483,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Joseph Drazkowski sold 7,500 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $56.64, for a total transaction of $424,800.00. Following the transaction, the insider now directly owns 9,460 shares of the company’s stock, valued at $535,814.40. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Wolverine Asset Management LLC acquired a new position in Fastenal during the 4th quarter valued at about $104,000. Exane Derivatives acquired a new position in Fastenal during the 4th quarter valued at about $110,000. SeaCrest Wealth Management LLC acquired a new position in Fastenal during the 4th quarter valued at about $115,000. Squar Milner Financial Services LLC acquired a new position in Fastenal during the 4th quarter valued at about $202,000. Finally, AlphaStar Capital Management LLC acquired a new position in Fastenal during the 4th quarter valued at about $201,000. 85.20% of the stock is owned by hedge funds and other institutional investors.
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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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