$1.08 Billion in Sales Expected for Fastenal (FAST) This Quarter
Equities research analysts forecast that Fastenal (NASDAQ:FAST) will report sales of $1.08 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Fastenal’s earnings, with estimates ranging from $1.05 billion to $1.09 billion. Fastenal posted sales of $947.95 million during the same quarter last year, which suggests a positive year over year growth rate of 13.9%. The company is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, January 17th.
On average, analysts expect that Fastenal will report full year sales of $1.08 billion for the current fiscal year, with estimates ranging from $4.35 billion to $4.39 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.78 billion per share, with estimates ranging from $4.71 billion to $4.88 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Fastenal.
Fastenal (NASDAQ:FAST) last released its earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS.
A number of equities research analysts have issued reports on FAST shares. KeyCorp reiterated a “buy” rating and set a $52.00 target price on shares of Fastenal in a report on Thursday, October 12th. Stephens set a $54.00 target price on shares of Fastenal and gave the stock a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, December 26th. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 target price (up from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $51.00 target price on shares of Fastenal in a report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.00.
Fastenal (NASDAQ:FAST) traded up $0.58 during trading on Monday, reaching $55.47. 2,260,000 shares of the company’s stock were exchanged, compared to its average volume of 2,170,000. The firm has a market cap of $15,940.00, a price-to-earnings ratio of 29.66, a PEG ratio of 1.84 and a beta of 1.09. Fastenal has a 12 month low of $39.79 and a 12 month high of $55.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.45 and a current ratio of 5.36.
In other news, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary A. Polipnick sold 2,634 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $53.45, for a total transaction of $140,787.30. Following the completion of the sale, the insider now owns 59,323 shares in the company, valued at $3,170,814.35. The disclosure for this sale can be found here. Insiders sold a total of 82,746 shares of company stock worth $4,020,619 over the last 90 days. Company insiders own 0.55% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FAST. Carlson Capital Management purchased a new position in shares of Fastenal in the 4th quarter valued at $219,000. Atlantic Trust Group LLC grew its position in shares of Fastenal by 147.9% in the 3rd quarter. Atlantic Trust Group LLC now owns 51,411 shares of the company’s stock valued at $2,343,000 after buying an additional 30,674 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Fastenal by 39.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 750,028 shares of the company’s stock valued at $34,186,000 after buying an additional 211,332 shares during the last quarter. Archford Capital Strategies LLC grew its position in shares of Fastenal by 46.6% in the 3rd quarter. Archford Capital Strategies LLC now owns 25,384 shares of the company’s stock valued at $1,157,000 after buying an additional 8,064 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC purchased a new position in shares of Fastenal in the 3rd quarter valued at $363,000. Institutional investors and hedge funds own 84.54% of the company’s stock.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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