FY2017 EPS Estimates for Fastenal Boosted by Analyst (FAST)

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.

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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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