Media headlines about Fastenal (NASDAQ:FAST) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group identifies negative and positive news coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Fastenal earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned press coverage about the company an impact score of 47.8227934073343 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the media stories that may have impacted Accern’s rankings:
- Fastenal : Earnings Review and Free Research Report: Fastenal’s Sales Jumped 11.8%; EPS Advanced 14% (4-traders.com)
- [$$] A Left-Behind Sector Is Poised to Climb (finance.yahoo.com)
- David Rolfe Comments on Fastenal (finance.yahoo.com)
- FY2017 Earnings Estimate for Fastenal Company Issued By William Blair (FAST) (americanbankingnews.com)
Fastenal (NASDAQ:FAST) opened at 47.26 on Tuesday. The stock’s 50 day moving average is $44.17 and its 200-day moving average is $44.23. The firm has a market capitalization of $13.58 billion, a P/E ratio of 25.21 and a beta of 1.00. Fastenal has a 1-year low of $37.88 and a 1-year high of $52.74.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Analysts forecast that Fastenal will post $1.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, October 24th. Fastenal’s payout ratio is 68.09%.
Fastenal declared that its board has authorized a share buyback plan on Tuesday, July 11th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
FAST has been the subject of several recent research reports. Robert W. Baird upgraded shares of Fastenal from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a research report on Wednesday, July 12th. BidaskClub cut shares of Fastenal from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Credit Suisse Group reiterated a “buy” rating and set a $52.00 target price on shares of Fastenal in a research report on Thursday, July 13th. BMO Capital Markets upped their target price on shares of Fastenal from $49.00 to $51.00 and gave the company a “no rating at time” rating in a research report on Friday, July 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $43.00 target price (down previously from $46.00) on shares of Fastenal in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $50.80.
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In related news, insider William Joseph Drazkowski bought 1,000 shares of the company’s stock in a transaction on Friday, July 21st. The shares were purchased at an average cost of $42.36 per share, for a total transaction of $42,360.00. Following the completion of the purchase, the insider now directly owns 1,960 shares in the company, valued at $83,025.60. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael John Dolan sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $43.01, for a total transaction of $344,080.00. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 2,400 shares of company stock worth $100,450. Corporate insiders own 0.55% of the company’s stock.
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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