Zacks Research Brokers Cut Earnings Estimates for Fastenal (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) – Research analysts at Zacks Research cut their Q4 2024 earnings per share estimates for Fastenal in a research report issued to clients and investors on Tuesday, June 25th. Zacks Research analyst S. Mukherjee now anticipates that the company will post earnings per share of $0.51 for the quarter, down from their previous forecast of $0.52. The consensus estimate for Fastenal’s current full-year earnings is $2.08 per share.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business earned $0.52 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year.

FAST has been the topic of several other research reports. HSBC lifted their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Loop Capital decreased their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Stifel Nicolaus lifted their target price on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird decreased their target price on Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.80.

Fastenal Stock Down 0.8 %

NASDAQ FAST opened at $62.84 on Friday. The stock’s 50-day moving average price is $65.84 and its 200-day moving average price is $68.59. The company has a market capitalization of $35.98 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 3.39 and a beta of 1.02. Fastenal has a 52 week low of $53.83 and a 52 week high of $79.04. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Fastenal

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hartford Financial Management Inc. boosted its holdings in Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after acquiring an additional 153 shares during the period. MCF Advisors LLC boosted its holdings in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after acquiring an additional 391 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Fastenal during the 4th quarter valued at $35,000. LRI Investments LLC purchased a new position in Fastenal during the 1st quarter valued at $39,000. Finally, Criterion Capital Advisors LLC purchased a new position in Fastenal during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Fastenal

In other news, Director Hsenghung Sam Hsu purchased 500 shares of the business’s stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $221,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Hsenghung Sam Hsu bought 500 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was purchased at an average price of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now owns 3,500 shares in the company, valued at $221,480. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel L. Johnson bought 3,350 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now owns 10,595 shares in the company, valued at approximately $724,486.10. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

Fastenal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.48%. The ex-dividend date was Wednesday, April 24th. Fastenal’s dividend payout ratio is presently 77.23%.

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.