Research Analysts Offer Predictions for Fastenal’s FY2018 Earnings (FAST)

Fastenal (NASDAQ:FAST) – Jefferies Financial Group issued their FY2018 EPS estimates for Fastenal in a research report issued on Monday, January 7th. Jefferies Financial Group analyst S. Volkmann anticipates that the company will earn $2.62 per share for the year. Jefferies Financial Group currently has a “Hold” rating and a $60.00 target price on the stock. Jefferies Financial Group also issued estimates for Fastenal’s Q4 2018 earnings at $0.59 EPS, Q1 2019 earnings at $0.68 EPS, Q2 2019 earnings at $0.76 EPS, Q3 2019 earnings at $0.75 EPS, Q4 2019 earnings at $0.66 EPS, FY2019 earnings at $2.85 EPS, Q1 2020 earnings at $0.75 EPS, Q2 2020 earnings at $0.80 EPS, Q3 2020 earnings at $0.80 EPS, Q4 2020 earnings at $0.70 EPS, FY2020 earnings at $3.05 EPS and FY2021 earnings at $3.25 EPS.

Fastenal (NASDAQ:FAST) last released its earnings results on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Fastenal had a return on equity of 32.29% and a net margin of 15.25%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the business posted $0.50 EPS. Fastenal’s quarterly revenue was up 13.0% compared to the same quarter last year.

A number of other brokerages have also recently weighed in on FAST. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Wednesday, October 3rd. Longbow Research upgraded Fastenal from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, December 4th. They noted that the move was a valuation call. BidaskClub upgraded Fastenal from a “hold” rating to a “buy” rating in a research report on Saturday, November 17th. ValuEngine upgraded Fastenal from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Finally, Morgan Stanley initiated coverage on Fastenal in a research report on Tuesday, December 18th. They set an “equal weight” rating and a $55.00 price target on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $56.77.

NASDAQ:FAST opened at $54.48 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.48 and a current ratio of 5.35. Fastenal has a 52 week low of $47.37 and a 52 week high of $61.14. The company has a market cap of $14.93 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 1.34 and a beta of 1.11.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can increased its position in Fastenal by 23.8% in the 3rd quarter. Bank of Montreal Can now owns 494,532 shares of the company’s stock valued at $28,693,000 after acquiring an additional 95,225 shares during the period. Global X Management Co LLC increased its position in shares of Fastenal by 16.4% during the 2nd quarter. Global X Management Co LLC now owns 69,024 shares of the company’s stock valued at $3,322,000 after purchasing an additional 9,734 shares during the period. Marshall Wace LLP acquired a new position in shares of Fastenal during the 2nd quarter valued at $1,322,000. Verition Fund Management LLC increased its position in shares of Fastenal by 69.9% during the 2nd quarter. Verition Fund Management LLC now owns 14,501 shares of the company’s stock valued at $698,000 after purchasing an additional 5,967 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Fastenal by 18.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,049,956 shares of the company’s stock valued at $60,918,000 after purchasing an additional 164,235 shares during the period. Hedge funds and other institutional investors own 85.04% of the company’s stock.

In other Fastenal news, insider William Joseph Drazkowski bought 830 shares of the stock in a transaction that occurred on Tuesday, October 23rd. The shares were purchased at an average cost of $50.54 per share, for a total transaction of $41,948.20. Following the transaction, the insider now directly owns 2,790 shares in the company, valued at $141,006.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael John Dolan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $900,000. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 2,295 shares of company stock worth $117,844. 0.56% of the stock is owned by insiders.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Earnings History and Estimates for Fastenal (NASDAQ:FAST)

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