Fastenal (FAST) to Release Earnings on Friday

Fastenal (NASDAQ:FAST) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, January 17th. Analysts expect the company to announce earnings of $0.48 per share and revenue of $1,842,560.16 billion for the quarter.

Fastenal Trading Up 0.7 %

Shares of FAST traded up $0.53 during mid-day trading on Wednesday, reaching $74.27. 3,286,784 shares of the company’s stock traded hands, compared to its average volume of 2,774,354. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. The stock’s 50-day moving average is $78.41 and its two-hundred day moving average is $72.81. Fastenal has a 12 month low of $61.36 and a 12 month high of $84.88. The stock has a market cap of $42.55 billion, a P/E ratio of 36.95, a P/E/G ratio of 4.64 and a beta of 1.02.

Insider Buying and Selling

In other news, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the transaction, the chief executive officer now owns 286,018 shares of the company’s stock, valued at $24,168,521. The trade was a 10.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel L. Johnson sold 8,474 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.36, for a total transaction of $706,392.64. Following the sale, the director now directly owns 10,595 shares of the company’s stock, valued at $883,199.20. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,660 shares of company stock worth $6,211,126 in the last three months. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FAST. UBS Group began coverage on Fastenal in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $88.00 target price on the stock. Robert W. Baird raised their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Bank of America began coverage on shares of Fastenal in a report on Monday, October 7th. They set a “buy” rating and a $85.00 price objective for the company. HSBC downgraded shares of Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 target price on the stock. in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Fastenal presently has an average rating of “Hold” and a consensus price target of $77.40.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.