Fastenal (FAST) Given Daily News Impact Score of 0.07
News stories about Fastenal (NASDAQ:FAST) have trended somewhat positive this week, according to Accern. The research group ranks the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, 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 coverage about the company an impact score of 46.2062637605689 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news articles that may have effected Accern Sentiment Analysis’s scoring:
- Fastenal Co Falls 1.65% on Heavy Volume: Watch For Potential Rebound (mysmartrend.com)
- Fastenal Company (FAST) Receives Hold Rating from BMO Capital Markets (americanbankingnews.com)
- 30550324.pdf (chippewa.com)
- Stock Monitor: Looking at the Levels on Shares of Fastenal Company (NASDAQ:FAST) – Sparta Review (spartareview.com)
- Work progressing on Bethel Church Road bridge project (indianagazette.com)
Shares of Fastenal (NASDAQ:FAST) traded down 1.75% during mid-day trading on Monday, reaching $39.97. The company’s stock had a trading volume of 5,917,565 shares. The firm has a 50 day moving average price of $43.00 and a 200 day moving average price of $46.12. Fastenal has a 52-week low of $37.70 and a 52-week high of $52.74. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 22.00 and a beta of 0.98.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, July 12th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. Fastenal had a return on equity of 26.86% and a net margin of 12.71%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. Fastenal’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts predict that Fastenal will post $1.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, July 26th will be paid a $0.32 dividend. The ex-dividend date is Monday, July 24th. This represents a $1.28 annualized dividend and a yield of 3.20%. Fastenal’s payout ratio is 70.33%.
Fastenal declared that its board has approved a stock repurchase plan on Tuesday, July 11th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
A number of analysts have recently issued reports on FAST shares. Morgan Stanley restated an “equal weight” rating and set a $46.00 price objective (down from $50.00) on shares of Fastenal in a research report on Monday, June 12th. Longbow Research upgraded Fastenal from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Friday, June 2nd. Credit Suisse Group restated a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research report on Thursday, July 13th. Zacks Investment Research cut Fastenal from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, BidaskClub cut Fastenal from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $49.85.
In related news, Director Daniel L. Johnson bought 600 shares of the company’s stock in a transaction on Monday, July 24th. The shares were purchased at an average price of $42.71 per share, for a total transaction of $25,626.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Joseph Drazkowski bought 1,000 shares of the company’s stock in a transaction on Friday, July 21st. The shares were bought at an average price of $42.36 per share, for a total transaction of $42,360.00. Following the transaction, the insider now owns 1,960 shares of the company’s stock, valued at $83,025.60. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 3,600 shares of company stock worth $154,256. 0.55% of the stock is owned by company insiders.
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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