Zacks: Analysts Anticipate Fastenal (FAST) Will Announce Quarterly Sales of $1.18 Billion

Analysts predict that Fastenal (NASDAQ:FAST) will announce sales of $1.18 billion for the current quarter, according to Zacks. Eight analysts have made estimates for Fastenal’s earnings, with the highest sales estimate coming in at $1.20 billion and the lowest estimate coming in at $1.16 billion. Fastenal reported sales of $1.05 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.4%. The firm is scheduled to report its next quarterly earnings report before the market opens on Wednesday, April 11th.

According to Zacks, analysts expect that Fastenal will report full year sales of $1.18 billion for the current year, with estimates ranging from $4.78 billion to $4.96 billion. For the next year, analysts forecast that the business will report sales of $5.23 billion per share, with estimates ranging from $5.11 billion to $5.35 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Fastenal.

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Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business earned $0.40 earnings per share. Fastenal’s revenue for the quarter was up 14.8% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the company. Goldman Sachs assumed coverage on Fastenal in a research report on Sunday, March 18th. They issued a “sell” rating and a $49.00 price objective for the company. Robert W. Baird reissued a “buy” rating and issued a $57.00 price objective on shares of Fastenal in a research report on Tuesday, March 6th. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Credit Suisse Group reissued an “outperform” rating and issued a $61.00 price objective (up from $52.00) on shares of Fastenal in a research report on Tuesday, January 9th. Finally, BMO Capital Markets restated a “hold” rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $54.07.

Shares of FAST remained flat at $$53.65 during mid-day trading on Monday. The stock had a trading volume of 3,175,628 shares, compared to its average volume of 2,768,110. Fastenal has a 12 month low of $39.79 and a 12 month high of $58.74. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $15,432.29, a PE ratio of 27.80, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99.

In other Fastenal news, insider Charles S. Miller sold 26,250 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the completion of the transaction, the insider now directly owns 26,250 shares in the company, valued at $1,483,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Joseph Drazkowski sold 7,500 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $56.64, for a total value of $424,800.00. Following the transaction, the insider now owns 9,460 shares of the company’s stock, valued at $535,814.40. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Beacon Investment Advisory Services Inc. acquired a new position in Fastenal during the third quarter worth $303,000. Squar Milner Financial Services LLC acquired a new position in Fastenal during the fourth quarter worth $202,000. Griffin Asset Management Inc. acquired a new position in Fastenal during the third quarter worth $550,000. Commerzbank Aktiengesellschaft FI acquired a new position in Fastenal during the third quarter worth $602,000. Finally, Norinchukin Bank The grew its holdings in shares of Fastenal by 6.9% during the fourth quarter. Norinchukin Bank The now owns 23,968 shares of the company’s stock worth $1,311,000 after purchasing an additional 1,543 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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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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