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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 $56.45 in the latest trading session, marking a -1.48% move from the prior day. This move lagged the S&P 500's daily loss of 1.35%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.87%.
Prior to today's trading, shares of the maker of industrial and construction fasteners had lost 2.1% over the past month. This has lagged the Retail-Wholesale sector's loss of 0.32% and the S&P 500's loss of 2.06% in that time.
Fastenal will be looking to display strength as it nears its next earnings release. On that day, Fastenal is projected to report earnings of $0.51 per share, which would represent 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.
Investors might also notice recent changes to analyst estimates for Fastenal. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Within the past 30 days, our consensus EPS projection 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 28.9. This valuation marks a premium compared to its industry's average Forward P/E of 11.16.
It is also worth noting that FAST currently has a PEG ratio of 3.21. 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. Building Products - Retail stocks are, on average, holding a PEG ratio of 1.98 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 29, which puts it in the top 12% 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 $56.45 in the latest trading session, marking a -1.48% move from the prior day. This move lagged the S&P 500's daily loss of 1.35%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.87%.
Prior to today's trading, shares of the maker of industrial and construction fasteners had lost 2.1% over the past month. This has lagged the Retail-Wholesale sector's loss of 0.32% and the S&P 500's loss of 2.06% in that time.
Fastenal will be looking to display strength as it nears its next earnings release. On that day, Fastenal is projected to report earnings of $0.51 per share, which would represent 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.
Investors might also notice recent changes to analyst estimates for Fastenal. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Within the past 30 days, our consensus EPS projection 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 28.9. This valuation marks a premium compared to its industry's average Forward P/E of 11.16.
It is also worth noting that FAST currently has a PEG ratio of 3.21. 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. Building Products - Retail stocks are, on average, holding a PEG ratio of 1.98 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 29, which puts it in the top 12% 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.