Fastenal (NASDAQ:FAST) Issues Earnings Results, Beats Estimates By $0.01 EPS

Share on StockTwits

Fastenal (NASDAQ:FAST) announced its quarterly earnings data on Friday. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01, Bloomberg Earnings reports. Fastenal had a net margin of 14.74% and a return on equity of 32.27%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis.

Shares of FAST opened at $36.34 on Friday. The firm has a market cap of $20.84 billion, a PE ratio of 27.53, a P/E/G ratio of 1.43 and a beta of 1.24. The company has a current ratio of 4.68, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $31.59 and a two-hundred day simple moving average of $41.89. Fastenal has a 1-year low of $24.00 and a 1-year high of $36.58.

A number of equities analysts recently weighed in on the stock. Cleveland Research restated a “hold” rating on shares of Fastenal in a report on Tuesday, September 24th. Morgan Stanley decreased their target price on shares of Fastenal from $31.50 to $29.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. BidaskClub upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a research note on Saturday, October 5th. Zacks Investment Research upgraded shares of Fastenal from a “sell” rating to a “hold” rating and set a $34.00 target price for the company in a research note on Tuesday, September 10th. Finally, Wells Fargo & Co decreased their target price on shares of Fastenal from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $31.64.

In related news, Director Daniel L. Johnson bought 2,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $30.49 per share, for a total transaction of $76,225.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael J. Ancius bought 1,104 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were bought at an average price of $30.13 per share, with a total value of $33,263.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 4,604 shares of company stock valued at $138,479. Company insiders own 0.56% of the company’s stock.

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.

Further Reading: What is a blue-chip stock?

Earnings History for Fastenal (NASDAQ:FAST)

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.