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Fastenal (FAST) Stock Moves -0.39%: What You Should Know
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In the latest trading session, Fastenal (FAST - Free Report) closed at $55.86, marking a -0.39% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.7%. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq lost 1.06%.
Coming into today, shares of the maker of industrial and construction fasteners had lost 1.09% in the past month. In that same time, the Retail-Wholesale sector lost 1.15%, while the S&P 500 gained 0.58%.
Wall Street will be looking for positivity from Fastenal as it approaches its next earnings report date. This is expected to be October 12, 2023. On that day, Fastenal is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 2%. Our most recent consensus estimate is calling for quarterly revenue of $1.85 billion, up 2.77% from the year-ago period.
FAST's full-year Zacks Consensus Estimates are calling for earnings of $1.98 per share and revenue of $7.34 billion. These results would represent year-over-year changes of +4.76% and +5.12%, respectively.
It is also important to note the recent changes to analyst estimates for Fastenal. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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).
Investors should also note Fastenal's current valuation metrics, including its Forward P/E ratio of 28.28. This represents a premium compared to its industry's average Forward P/E of 11.3.
It is also worth noting that FAST currently has a PEG ratio of 3.14. 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 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 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Fastenal (FAST) Stock Moves -0.39%: What You Should Know
In the latest trading session, Fastenal (FAST - Free Report) closed at $55.86, marking a -0.39% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.7%. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq lost 1.06%.
Coming into today, shares of the maker of industrial and construction fasteners had lost 1.09% in the past month. In that same time, the Retail-Wholesale sector lost 1.15%, while the S&P 500 gained 0.58%.
Wall Street will be looking for positivity from Fastenal as it approaches its next earnings report date. This is expected to be October 12, 2023. On that day, Fastenal is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 2%. Our most recent consensus estimate is calling for quarterly revenue of $1.85 billion, up 2.77% from the year-ago period.
FAST's full-year Zacks Consensus Estimates are calling for earnings of $1.98 per share and revenue of $7.34 billion. These results would represent year-over-year changes of +4.76% and +5.12%, respectively.
It is also important to note the recent changes to analyst estimates for Fastenal. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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).
Investors should also note Fastenal's current valuation metrics, including its Forward P/E ratio of 28.28. This represents a premium compared to its industry's average Forward P/E of 11.3.
It is also worth noting that FAST currently has a PEG ratio of 3.14. 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 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 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.