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Fastenal (FAST) Dips More Than Broader Markets: What You Should Know
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Fastenal (FAST - Free Report) closed at $58.06 in the latest trading session, marking a -0.68% move from the prior day. This change lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 2.93%.
Prior to today's trading, shares of the maker of industrial and construction fasteners had gained 6.48% over the past month. This has outpaced the Retail-Wholesale sector's gain of 5.35% and the S&P 500's gain of 4.22% in that time.
Investors will be hoping for strength from Fastenal as it approaches its next earnings release, which is expected to be July 13, 2023. In that report, analysts expect Fastenal to post earnings of $0.52 per share. This would mark year-over-year growth of 4%. Our most recent consensus estimate is calling for quarterly revenue of $1.89 billion, up 6.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.98 per share and revenue of $7.35 billion, which would represent changes of +4.76% and +5.35%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Fastenal. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Fastenal is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Fastenal is currently trading at a Forward P/E ratio of 29.48. This represents a premium compared to its industry's average Forward P/E of 13.
We can also see that FAST currently has a PEG ratio of 3.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Retail industry currently had an average PEG ratio of 2.03 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow FAST in the coming trading sessions, be sure to utilize Zacks.com.
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Fastenal (FAST) Dips More Than Broader Markets: What You Should Know
Fastenal (FAST - Free Report) closed at $58.06 in the latest trading session, marking a -0.68% move from the prior day. This change lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 2.93%.
Prior to today's trading, shares of the maker of industrial and construction fasteners had gained 6.48% over the past month. This has outpaced the Retail-Wholesale sector's gain of 5.35% and the S&P 500's gain of 4.22% in that time.
Investors will be hoping for strength from Fastenal as it approaches its next earnings release, which is expected to be July 13, 2023. In that report, analysts expect Fastenal to post earnings of $0.52 per share. This would mark year-over-year growth of 4%. Our most recent consensus estimate is calling for quarterly revenue of $1.89 billion, up 6.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.98 per share and revenue of $7.35 billion, which would represent changes of +4.76% and +5.35%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Fastenal. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Fastenal is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Fastenal is currently trading at a Forward P/E ratio of 29.48. This represents a premium compared to its industry's average Forward P/E of 13.
We can also see that FAST currently has a PEG ratio of 3.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Retail industry currently had an average PEG ratio of 2.03 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow FAST in the coming trading sessions, be sure to utilize Zacks.com.