Fastenal (NASDAQ:FAST) – Equities researchers at William Blair boosted their FY2017 earnings per share (EPS) estimates for Fastenal in a report issued on Wednesday, according to Zacks Investment Research. William Blair analyst R. Merkel now forecasts that the company will post earnings per share of $1.93 for the year, up from their previous forecast of $1.92. William Blair also issued estimates for Fastenal’s Q4 2017 earnings at $0.45 EPS.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, December 26th. Stifel Nicolaus reiterated a “hold” rating and set a $51.00 target price on shares of Fastenal in a research note on Monday, December 11th. KeyCorp reiterated a “buy” rating and set a $52.00 target price on shares of Fastenal in a research note on Thursday, October 12th. Stephens set a $54.00 target price on Fastenal and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $51.00 target price (up from $46.00) on shares of Fastenal in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $52.00.
Fastenal (FAST) traded down $0.15 on Monday, reaching $54.54. 2,081,638 shares of the company’s stock were exchanged, compared to its average volume of 1,667,900. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21. The stock has a market cap of $15,670.00, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.03 and a beta of 1.08. Fastenal has a 1 year low of $39.79 and a 1 year high of $55.45.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS.
Several institutional investors and hedge funds have recently made changes to their positions in FAST. Bessemer Group Inc. increased its position in shares of Fastenal by 1.0% during the second quarter. Bessemer Group Inc. now owns 33,099 shares of the company’s stock valued at $1,442,000 after buying an additional 334 shares during the period. Global X Management Co. LLC increased its position in shares of Fastenal by 37.9% during the second quarter. Global X Management Co. LLC now owns 11,148 shares of the company’s stock valued at $485,000 after buying an additional 3,063 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Fastenal by 13.4% during the second quarter. Canada Pension Plan Investment Board now owns 301,662 shares of the company’s stock worth $13,131,000 after purchasing an additional 35,629 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of Fastenal by 1.2% during the second quarter. Wetherby Asset Management Inc. now owns 7,184 shares of the company’s stock worth $313,000 after purchasing an additional 82 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Fastenal by 6.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,417,649 shares of the company’s stock worth $61,711,000 after purchasing an additional 85,430 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.
In other news, insider Gary A. Polipnick sold 2,634 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $53.45, for a total transaction of $140,787.30. Following the sale, the insider now directly owns 59,323 shares in the company, valued at $3,170,814.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Leland J. Hein sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total value of $510,000.00. Following the sale, the insider now owns 22,588 shares in the company, valued at $1,151,988. 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. 0.55% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION WARNING: This report was originally reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.truebluetribune.com/2018/01/03/fastenal-expected-to-earn-fy2017-earnings-of-1-93-per-share-fast.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.