Analysts Offer Predictions for Fastenal’s Q1 2018 Earnings (FAST)
Fastenal (NASDAQ:FAST) – Equities researchers at Northcoast Research upped their Q1 2018 earnings per share (EPS) estimates for Fastenal in a research note issued to investors on Wednesday. Northcoast Research analyst R. Cieslak now anticipates that the company will post earnings of $0.52 per share for the quarter, up from their previous forecast of $0.51. Northcoast Research also issued estimates for Fastenal’s Q2 2018 earnings at $0.58 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $2.18 EPS.
A number of other research firms have also weighed in on FAST. BidaskClub lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $46.00 price target on shares of Fastenal in a research report on Monday, August 21st. Stephens set a $54.00 target price on shares of Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 target price on shares of Fastenal in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $50.80.
Fastenal (FAST) opened at $53.78 on Friday. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21. Fastenal has a 12 month low of $39.79 and a 12 month high of $55.35. The firm has a market cap of $15,473.10, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.99 and a beta of 1.08.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.50. The firm 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%. Fastenal’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, October 25th were issued a $0.32 dividend. The ex-dividend date was Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.38%. Fastenal’s payout ratio is 68.09%.
In other Fastenal news, insider Leland J. Hein sold 10,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $47.14, for a total transaction of $471,400.00. Following the transaction, the insider now directly owns 21,290 shares in the company, valued at $1,003,610.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terry Modock Owen sold 30,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The disclosure for this sale can be found here. Insiders sold 80,112 shares of company stock valued at $3,879,832 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC lifted its position in 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 purchasing an additional 8,064 shares during the last quarter. Gyroscope Capital Management Group LLC bought a new stake in shares of Fastenal during the 3rd quarter worth about $363,000. IFM Investors Pty Ltd bought a new stake in shares of Fastenal during the 3rd quarter worth about $441,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Fastenal during the 3rd quarter worth about $201,000. Finally, Bares Capital Management Inc. raised its position in shares of Fastenal by 2.0% during the 3rd quarter. Bares Capital Management Inc. now owns 3,662,915 shares of the company’s stock worth $166,956,000 after buying an additional 70,166 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.
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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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