Q1 2018 EPS Estimates for Fastenal Raised by Northcoast Research (FAST)

Fastenal (NASDAQ:FAST) – Northcoast Research boosted their Q1 2018 earnings estimates for shares of Fastenal in a research report issued to clients and investors on Thursday. Northcoast Research analyst R. Cieslak now forecasts that the company will post earnings per share of $0.60 for the quarter, up from their previous forecast of $0.52. Northcoast Research also issued estimates for Fastenal’s Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.67 EPS and Q4 2018 earnings at $0.60 EPS.

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

FAST has been the topic of a number of other research reports. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 price objective (up previously from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. KeyCorp reiterated a “buy” rating and issued a $52.00 price objective on shares of Fastenal in a research note on Thursday, October 12th. Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus reiterated a “hold” rating and issued a $51.00 price objective on shares of Fastenal in a research note on Monday, December 11th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 price objective (up previously from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $53.29.

Shares of Fastenal (NASDAQ FAST) opened at $53.75 on Friday. The firm has a market cap of $15,325.76, a price-to-earnings ratio of 26.74, a PEG ratio of 1.77 and a beta of 1.09. Fastenal has a 52 week low of $39.79 and a 52 week high of $56.15. The company has a quick ratio of 2.45, a current ratio of 5.51 and a debt-to-equity ratio of 0.20.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, January 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.75%. The ex-dividend date is Tuesday, January 30th. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s dividend payout ratio (DPR) is currently 63.68%.

In related news, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $48.00, for a total transaction of $480,000.00. Following the sale, the vice president now owns 20,258 shares in the company, valued at approximately $972,384. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,746 shares of company stock worth $3,061,819. 0.55% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in FAST. Commonwealth Bank of Australia grew its position in Fastenal by 44.9% during the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after buying an additional 753 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Fastenal during the third quarter valued at $114,000. Cable Hill Partners LLC purchased a new position in Fastenal during the third quarter valued at $126,000. Krilogy Financial LLC lifted its holdings in Fastenal by 2.0% during the second quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after purchasing an additional 70 shares in the last quarter. Finally, QS Investors LLC lifted its holdings in Fastenal by 1.6% during the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 84.57% of the company’s stock.

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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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