We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fastenal (FAST) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, Fastenal (FAST - Free Report) closed at $54.64, marking a -1.81% move from the previous day. This move lagged the S&P 500's daily loss of 0.27%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq added 0.14%.
Prior to today's trading, shares of the maker of industrial and construction fasteners had lost 3.35% over the past month. This has lagged the Retail-Wholesale sector's loss of 3.29% and the S&P 500's loss of 2.86% in that time.
Fastenal will be looking to display strength as it nears its next earnings release, which is expected to be October 12, 2023. The company is expected to report EPS of $0.51, up 2% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.85 billion, up 2.7% 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 +5.1%, 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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).
Looking at its valuation, Fastenal is holding a Forward P/E ratio of 28.06. For comparison, its industry has an average Forward P/E of 11.62, which means Fastenal is trading at a premium to the group.
We can also see that FAST currently has a PEG ratio of 3.12. 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 industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Fastenal (FAST) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Fastenal (FAST - Free Report) closed at $54.64, marking a -1.81% move from the previous day. This move lagged the S&P 500's daily loss of 0.27%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq added 0.14%.
Prior to today's trading, shares of the maker of industrial and construction fasteners had lost 3.35% over the past month. This has lagged the Retail-Wholesale sector's loss of 3.29% and the S&P 500's loss of 2.86% in that time.
Fastenal will be looking to display strength as it nears its next earnings release, which is expected to be October 12, 2023. The company is expected to report EPS of $0.51, up 2% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.85 billion, up 2.7% 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 +5.1%, 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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).
Looking at its valuation, Fastenal is holding a Forward P/E ratio of 28.06. For comparison, its industry has an average Forward P/E of 11.62, which means Fastenal is trading at a premium to the group.
We can also see that FAST currently has a PEG ratio of 3.12. 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 industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.