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Fastenal (FAST) Stock Moves -0.33%: What You Should Know
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Fastenal (FAST - Free Report) closed at $54.10 in the latest trading session, marking a -0.33% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.64%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.82%.
Prior to today's trading, shares of the maker of industrial and construction fasteners had lost 5.27% over the past month. This has lagged the Retail-Wholesale sector's loss of 0.11% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Fastenal as it approaches its next earnings release, which 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.85 billion, up 2.7% from the year-ago period.
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 +5.1%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Fastenal. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 #3 (Hold) right now.
Investors should also note Fastenal's current valuation metrics, including its Forward P/E ratio of 27.37. This valuation marks a premium compared to its industry's average Forward P/E of 11.37.
Also, we should mention that FAST has a PEG ratio of 3.04. 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 1.94 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 60, putting it in the top 24% 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 -0.33%: What You Should Know
Fastenal (FAST - Free Report) closed at $54.10 in the latest trading session, marking a -0.33% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.64%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.82%.
Prior to today's trading, shares of the maker of industrial and construction fasteners had lost 5.27% over the past month. This has lagged the Retail-Wholesale sector's loss of 0.11% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Fastenal as it approaches its next earnings release, which 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.85 billion, up 2.7% from the year-ago period.
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 +5.1%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Fastenal. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 #3 (Hold) right now.
Investors should also note Fastenal's current valuation metrics, including its Forward P/E ratio of 27.37. This valuation marks a premium compared to its industry's average Forward P/E of 11.37.
Also, we should mention that FAST has a PEG ratio of 3.04. 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 1.94 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 60, putting it in the top 24% 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.