Brokerages expect that Fastenal (NASDAQ:FAST) will report $1.22 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Fastenal’s earnings, with the highest sales estimate coming in at $1.23 billion and the lowest estimate coming in at $1.20 billion. Fastenal posted sales of $1.09 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 11.9%. The firm is expected to report its next quarterly earnings report on Wednesday, January 16th.
According to Zacks, analysts expect that Fastenal will report full-year sales of $4.95 billion for the current year, with estimates ranging from $4.93 billion to $4.97 billion. For the next financial year, analysts forecast that the company will report sales of $5.39 billion, with estimates ranging from $5.31 billion to $5.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Fastenal.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Fastenal had a return on equity of 32.29% and a net margin of 15.25%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis.
Several research analysts have recently weighed in on FAST shares. Northcoast Research set a $60.00 price objective on Fastenal and gave the stock a “buy” rating in a research report on Friday, July 13th. ValuEngine raised Fastenal from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Saturday, July 14th. BidaskClub raised Fastenal from a “hold” rating to a “buy” rating in a research report on Tuesday, August 21st. Finally, Wells Fargo & Co set a $50.00 target price on Fastenal and gave the company a “hold” rating in a research report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $56.40.
Shares of FAST stock traded up $1.19 during mid-day trading on Friday, hitting $54.69. The company’s stock had a trading volume of 1,914,893 shares, compared to its average volume of 2,888,342. Fastenal has a 52 week low of $46.72 and a 52 week high of $61.14. The company has a current ratio of 5.35, a quick ratio of 2.48 and a debt-to-equity ratio of 0.17. The firm has a market cap of $15.15 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 1.46 and a beta of 1.01.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, October 24th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Tuesday, October 23rd. Fastenal’s payout ratio is 82.90%.
In other news, CEO Daniel L. Florness bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 12th. The stock was acquired at an average cost of $51.95 per share, with a total value of $103,900.00. Following the transaction, the chief executive officer now directly owns 99,845 shares of the company’s stock, valued at approximately $5,186,947.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Holden Lewis bought 500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The stock was purchased at an average cost of $52.28 per share, with a total value of $26,140.00. Following the completion of the transaction, the chief financial officer now directly owns 3,500 shares in the company, valued at $182,980. The disclosure for this purchase can be found here. Insiders purchased a total of 5,795 shares of company stock valued at $299,849 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of FAST. Trust Department MB Financial Bank N A bought a new stake in Fastenal during the 2nd quarter worth approximately $137,000. Delta Asset Management LLC TN increased its holdings in Fastenal by 3,540.7% during the 3rd quarter. Delta Asset Management LLC TN now owns 3,131 shares of the company’s stock worth $182,000 after purchasing an additional 3,045 shares in the last quarter. Canton Hathaway LLC bought a new stake in Fastenal during the 3rd quarter worth approximately $186,000. Meyer Handelman Co. bought a new stake in Fastenal during the 3rd quarter worth approximately $203,000. Finally, Atria Investments LLC bought a new stake in Fastenal during the 3rd quarter worth approximately $222,000. 86.30% of the stock is 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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