Fastenal (FAST) Earning Somewhat Favorable Press Coverage, Study Shows

News headlines about Fastenal (NASDAQ:FAST) have trended somewhat positive recently, Accern Sentiment reports. Accern ranks the sentiment of media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Fastenal earned a media sentiment score of 0.07 on Accern’s scale. Accern also assigned news articles about the company an impact score of 45.6398464961033 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

These are some of the news articles that may have impacted Accern’s scoring:

Fastenal (NASDAQ FAST) traded down $0.21 on Friday, reaching $52.18. 3,230,000 shares of the company’s stock were exchanged, compared to its average volume of 1,744,578. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $14,996.01, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08. Fastenal has a 52-week low of $39.79 and a 52-week high of $52.89.

Fastenal (NASDAQ:FAST) last released its 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 analysts’ expectations of $1.12 billion. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. sell-side analysts expect that Fastenal will post 1.93 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Tuesday, October 24th. Fastenal’s payout ratio is 68.09%.

Several equities research analysts have recently commented on the stock. BMO Capital Markets reissued a “market perform” rating and set a $51.00 target price (up from $46.00) on shares of Fastenal in a research report on Tuesday, October 10th. Morgan Stanley reissued an “equal weight” rating and set a $46.00 target price (up from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. Stephens set a $54.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research report on Wednesday, October 11th. KeyCorp reissued a “buy” rating and set a $52.00 target price on shares of Fastenal in a research report on Thursday, October 12th. Finally, BidaskClub downgraded shares of Fastenal from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.80.

In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Leland J. Hein sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,112 shares of company stock worth $3,879,832. Corporate insiders own 0.55% of the company’s stock.

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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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