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Fastenal (FAST) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Fastenal (FAST - Free Report) closed at $53.85, marking a -0.87% move from the previous day. This move lagged the S&P 500's daily loss of 0.73%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 7.92%.

Heading into today, shares of the maker of industrial and construction fasteners had gained 1.51% over the past month, outpacing the Retail-Wholesale sector's loss of 0.23% and the S&P 500's gain of 0.5% in that time.

Wall Street will be looking for positivity from Fastenal as it approaches its next earnings report date. The company is expected to report EPS of $0.53, up 6% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.89 billion, up 6.28% from the year-ago period.

FAST's full-year Zacks Consensus Estimates are calling for earnings of $1.98 per share and revenue of $7.35 billion. These results would represent year-over-year changes of +4.76% and +5.36%, respectively.

Investors should also note any recent changes to analyst estimates for Fastenal. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.02% higher. Fastenal currently has a Zacks Rank of #2 (Buy).

Looking at its valuation, Fastenal is holding a Forward P/E ratio of 27.39. This valuation marks a premium compared to its industry's average Forward P/E of 11.76.

It is also worth noting that FAST currently has a PEG ratio of 3.04. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Building Products - Retail stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.

The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on

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