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Fastenal (FAST) Gains As Market Dips: What You Should Know
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Fastenal (FAST - Free Report) closed at $57.49 in the latest trading session, marking a +0.4% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the maker of industrial and construction fasteners had lost 1.04% over the past month, outpacing the Retail-Wholesale sector's loss of 1.07% and the S&P 500's loss of 3.25% in that time.
Investors will be hoping for strength from Fastenal as it approaches its next earnings release. In that report, analysts expect Fastenal to post earnings of $0.51 per share. This would mark year-over-year growth of 2%. Meanwhile, our latest consensus estimate is calling for revenue of $1.85 billion, up 2.77% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.98 per share and revenue of $7.34 billion. These totals would mark changes of +4.76% and +5.12%, respectively, from last year.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.35% higher. Fastenal is currently a Zacks Rank #3 (Hold).
Digging into valuation, Fastenal currently has a Forward P/E ratio of 28.88. This valuation marks a premium compared to its industry's average Forward P/E of 11.35.
It is also worth noting that FAST currently has a PEG ratio of 3.21. 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 2 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 28, which puts it in the top 12% 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 Zacks.com.
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Fastenal (FAST) Gains As Market Dips: What You Should Know
Fastenal (FAST - Free Report) closed at $57.49 in the latest trading session, marking a +0.4% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the maker of industrial and construction fasteners had lost 1.04% over the past month, outpacing the Retail-Wholesale sector's loss of 1.07% and the S&P 500's loss of 3.25% in that time.
Investors will be hoping for strength from Fastenal as it approaches its next earnings release. In that report, analysts expect Fastenal to post earnings of $0.51 per share. This would mark year-over-year growth of 2%. Meanwhile, our latest consensus estimate is calling for revenue of $1.85 billion, up 2.77% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.98 per share and revenue of $7.34 billion. These totals would mark changes of +4.76% and +5.12%, respectively, from last year.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.35% higher. Fastenal is currently a Zacks Rank #3 (Hold).
Digging into valuation, Fastenal currently has a Forward P/E ratio of 28.88. This valuation marks a premium compared to its industry's average Forward P/E of 11.35.
It is also worth noting that FAST currently has a PEG ratio of 3.21. 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 2 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 28, which puts it in the top 12% 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 Zacks.com.