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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 $58.25, marking a -0.27% move from the previous day. This change lagged the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 9.78%.
Coming into today, shares of the maker of industrial and construction fasteners had gained 8.25% in the past month. In that same time, the Retail-Wholesale sector gained 6.88%, while the S&P 500 gained 4.16%.
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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.89 billion, up 5.99% 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 might also notice recent changes to analyst estimates for Fastenal. Recent revisions tend to reflect the latest near-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. The Zacks Consensus EPS estimate remained stagnant within the past month. Fastenal currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Fastenal has a Forward P/E ratio of 29.45 right now. This valuation marks a premium compared to its industry's average Forward P/E of 13.28.
Investors should also note that FAST has a PEG ratio of 3.27 right now. 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. FAST's industry had an average PEG ratio of 2.01 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 21, putting it in the top 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Fastenal (FAST) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Fastenal (FAST - Free Report) closed at $58.25, marking a -0.27% move from the previous day. This change lagged the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 9.78%.
Coming into today, shares of the maker of industrial and construction fasteners had gained 8.25% in the past month. In that same time, the Retail-Wholesale sector gained 6.88%, while the S&P 500 gained 4.16%.
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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.89 billion, up 5.99% 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 might also notice recent changes to analyst estimates for Fastenal. Recent revisions tend to reflect the latest near-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. The Zacks Consensus EPS estimate remained stagnant within the past month. Fastenal currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Fastenal has a Forward P/E ratio of 29.45 right now. This valuation marks a premium compared to its industry's average Forward P/E of 13.28.
Investors should also note that FAST has a PEG ratio of 3.27 right now. 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. FAST's industry had an average PEG ratio of 2.01 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 21, putting it in the top 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.