Equities research analysts expect that Fastenal (NASDAQ:FAST) will post sales of $1.27 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for Fastenal’s earnings. The lowest sales estimate is $1.26 billion and the highest is $1.28 billion. Fastenal posted sales of $1.13 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.4%. The business is expected to announce its next earnings report before the market opens on Wednesday, October 10th.

According to Zacks, analysts expect that Fastenal will report full year sales of $4.93 billion for the current financial year, with estimates ranging from $4.90 billion to $4.96 billion. For the next financial year, analysts forecast that the company will post sales of $5.33 billion, with estimates ranging from $5.25 billion to $5.40 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Fastenal.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, July 11th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. Fastenal’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS.

A number of analysts have weighed in on FAST shares. BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Tuesday, August 21st. Robert W. Baird lowered shares of Fastenal from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 3rd. Stifel Nicolaus raised their price objective on shares of Fastenal from $53.00 to $56.00 and gave the company a “hold” rating in a research note on Friday, July 13th. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, Northcoast Research set a $60.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research note on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $55.55.

NASDAQ:FAST traded up $0.30 on Friday, reaching $58.07. 1,564,000 shares of the stock traded hands, compared to its average volume of 2,764,123. The firm has a market cap of $16.64 billion, a P/E ratio of 30.09, a P/E/G ratio of 1.62 and a beta of 0.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.57 and a current ratio of 5.62. Fastenal has a 12 month low of $42.51 and a 12 month high of $61.14.

Hedge funds have recently made changes to their positions in the company. Institutional & Family Asset Management LLC bought a new stake in Fastenal during the first quarter valued at approximately $122,000. Lucia Wealth Services LLC bought a new stake in Fastenal during the first quarter valued at approximately $143,000. Trust Department MB Financial Bank N A bought a new stake in Fastenal during the second quarter valued at approximately $137,000. Twin Tree Management LP bought a new stake in Fastenal during the second quarter valued at approximately $203,000. Finally, Stock Yards Bank & Trust Co. bought a new stake in Fastenal during the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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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Earnings History and Estimates for Fastenal (NASDAQ:FAST)

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