Somewhat Positive News Coverage Somewhat Unlikely to Impact Fastenal (FAST) Stock Price

Headlines about Fastenal (NASDAQ:FAST) have been trending somewhat positive recently, Accern Sentiment reports. The research group scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fastenal earned a daily sentiment score of 0.16 on Accern’s scale. Accern also gave headlines about the company an impact score of 45.8681152945962 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

Here are some of the headlines that may have effected Accern’s rankings:

Shares of Fastenal (NASDAQ:FAST) traded down $0.06 on Friday, hitting $54.05. 1,210,374 shares of the company’s stock were exchanged, compared to its average volume of 2,442,086. 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 firm has a market capitalization of $15,550.70, a PE ratio of 28.75, a PEG ratio of 2.00 and a beta of 1.08. Fastenal has a 1-year low of $39.79 and a 1-year high of $55.35.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $1.13 billion during 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 business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. equities analysts forecast that Fastenal will post 1.93 earnings per share for the current year.

FAST has been the subject of a number of recent analyst reports. Stifel Nicolaus reiterated a “hold” rating and set a $51.00 price target on shares of Fastenal in a research report on Monday, December 11th. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 price target (up from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a research report on Wednesday, October 11th. BMO Capital Markets reiterated a “market perform” rating and set a $51.00 price target (up from $46.00) on shares of Fastenal in a research report on Tuesday, October 10th. Finally, KeyCorp reiterated a “buy” rating and set a $52.00 price target on shares of Fastenal in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $51.13.

In related news, insider Leland J. Hein sold 10,000 shares of Fastenal stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $48.74, for a total value of $487,400.00. Following the completion of the transaction, the insider now owns 20,258 shares in the company, valued at $987,374.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terry Modock Owen sold 30,000 shares of Fastenal stock in a transaction that occurred on Thursday, November 16th. The shares were 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 82,746 shares of company stock valued at $4,020,619 in the last 90 days. Company insiders own 0.55% of the company’s stock.

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About Fastenal

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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