Fastenal Co. (FAST) Set to Announce Earnings on Tuesday
Fastenal Co. (NASDAQ:FAST) is scheduled to release its earnings data before the market opens on Tuesday, October 11th. Analysts expect Fastenal to post earnings of $0.45 per share for the quarter.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, July 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $1.01 billion for the quarter. Fastenal had a return on equity of 27.83% and a net margin of 12.91%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 earnings per share. On average, analysts expect Fastenal to post $1.74 EPS for the current fiscal year and $1.85 EPS for the next fiscal year.
Shares of Fastenal Co. (NASDAQ:FAST) opened at 42.30 on Monday. Fastenal Co. has a one year low of $35.10 and a one year high of $49.99. The company’s 50-day moving average price is $41.91 and its 200-day moving average price is $44.29. The stock has a market cap of $12.22 billion, a PE ratio of 24.17 and a beta of 0.99.
Hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd raised its stake in Fastenal by 78.2% in the second quarter. Quadrature Capital Ltd now owns 34,898 shares of the company’s stock valued at $1,549,000 after buying an additional 15,319 shares in the last quarter. Atlantic Trust Group LLC raised its stake in Fastenal by 6.0% in the second quarter. Atlantic Trust Group LLC now owns 35,537 shares of the company’s stock valued at $1,577,000 after buying an additional 2,022 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Fastenal by 652.6% in the second quarter. Canada Pension Plan Investment Board now owns 22,133 shares of the company’s stock valued at $982,000 after buying an additional 19,192 shares in the last quarter. Tredje AP fonden raised its stake in Fastenal by 486.0% in the second quarter. Tredje AP fonden now owns 9,610 shares of the company’s stock valued at $427,000 after buying an additional 7,970 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Fastenal during the second quarter valued at about $1,230,000. 82.12% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on FAST shares. Credit Suisse Group AG reiterated a “neutral” rating and set a $43.00 price objective on shares of Fastenal in a research note on Friday, June 17th. Morgan Stanley started coverage on Fastenal in a research note on Thursday, July 7th. They set an “equal weight” rating and a $46.00 price objective for the company. BMO Capital Markets reiterated a “market perform” rating and set a $47.00 price objective on shares of Fastenal in a research note on Wednesday, July 13th. Zacks Investment Research cut Fastenal from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 14th. Finally, Macquarie initiated coverage on Fastenal in a research note on Thursday, August 25th. They set a “neutral” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $47.44.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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