Analysts Expect Fastenal (FAST) Will Post Quarterly Sales of $1.30 Billion

Equities analysts expect Fastenal (NASDAQ:FAST) to report sales of $1.30 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Fastenal’s earnings, with estimates ranging from $1.28 billion to $1.31 billion. Fastenal reported sales of $1.19 billion in the same quarter last year, which would suggest a positive year over year growth rate of 9.2%. The company is expected to issue its next earnings report on Thursday, April 11th.

On average, analysts expect that Fastenal will report full-year sales of $5.43 billion for the current fiscal year, with estimates ranging from $5.33 billion to $5.53 billion. For the next financial year, analysts forecast that the firm will report sales of $5.81 billion, with estimates ranging from $5.64 billion to $6.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Fastenal.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. Fastenal had a return on equity of 33.48% and a net margin of 15.14%. During the same quarter in the prior year, the firm earned $0.61 earnings per share.

FAST has been the subject of a number of research reports. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Friday, December 14th. Morgan Stanley started coverage on Fastenal in a report on Tuesday, December 18th. They set an “equal weight” rating and a $55.00 price objective for the company. Jefferies Financial Group started coverage on Fastenal in a research note on Monday, January 7th. They issued a “hold” rating and a $60.00 price target for the company. Wolfe Research upgraded Fastenal from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Finally, Buckingham Research set a $51.00 price target on Fastenal and gave the company a “hold” rating in a research note on Friday, January 11th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $58.44.

In other Fastenal news, insider Leland J. Hein sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $63.13, for a total value of $1,420,425.00. Following the completion of the transaction, the insider now directly owns 30,111 shares in the company, valued at $1,900,907.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas J. Lundquist sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $60.51, for a total value of $302,550.00. Following the completion of the transaction, the insider now owns 216,000 shares of the company’s stock, valued at $13,070,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,083 shares of company stock valued at $5,458,662. Corporate insiders own 0.56% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Fastenal by 1.0% in the third quarter. Vanguard Group Inc. now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after buying an additional 311,099 shares during the last quarter. Vanguard Group Inc lifted its position in shares of Fastenal by 1.0% in the third quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after buying an additional 311,099 shares during the last quarter. BlackRock Inc. lifted its position in shares of Fastenal by 3.3% in the fourth quarter. BlackRock Inc. now owns 19,919,843 shares of the company’s stock valued at $1,041,607,000 after buying an additional 633,546 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Fastenal by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 15,859,900 shares of the company’s stock valued at $829,314,000 after buying an additional 1,134,666 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Fastenal by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock valued at $217,478,000 after buying an additional 225,481 shares during the last quarter. 86.58% of the stock is owned by institutional investors.

NASDAQ:FAST opened at $68.48 on Friday. The company has a quick ratio of 2.37, a current ratio of 5.30 and a debt-to-equity ratio of 0.22. The stock has a market cap of $18.59 billion, a P/E ratio of 26.04, a PEG ratio of 1.43 and a beta of 1.17. Fastenal has a 52-week low of $47.37 and a 52-week high of $69.20.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, April 24th will be paid a $0.43 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.51%. Fastenal’s dividend payout ratio is 65.40%.

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: Price-Sales Ratio

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Earnings History and Estimates for Fastenal (NASDAQ:FAST)

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