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In the latest trading session, Fastenal (FAST - Free Report) closed at $62.47, marking a +0.79% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.41%. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 2.2%.
The the stock of maker of industrial and construction fasteners has fallen by 0.5% in the past month, lagging the Retail-Wholesale sector's gain of 2.51% and the S&P 500's gain of 2.9%.
The investment community will be paying close attention to the earnings performance of Fastenal in its upcoming release. The company is slated to reveal its earnings on January 18, 2024. The company's earnings per share (EPS) are projected to be $0.45, reflecting a 4.65% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.75 billion, indicating a 3.12% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Fastenal is holding a Zacks Rank of #2 (Buy) right now.
From a valuation perspective, Fastenal is currently exchanging hands at a Forward P/E ratio of 29.22. For comparison, its industry has an average Forward P/E of 12.46, which means Fastenal is trading at a premium to the group.
It is also worth noting that FAST currently has a PEG ratio of 3.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Building Products - Retail industry held an average PEG ratio of 2.03.
The Building Products - Retail industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 194, positioning it in the bottom 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Fastenal (FAST) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the latest trading session, Fastenal (FAST - Free Report) closed at $62.47, marking a +0.79% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.41%. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 2.2%.
The the stock of maker of industrial and construction fasteners has fallen by 0.5% in the past month, lagging the Retail-Wholesale sector's gain of 2.51% and the S&P 500's gain of 2.9%.
The investment community will be paying close attention to the earnings performance of Fastenal in its upcoming release. The company is slated to reveal its earnings on January 18, 2024. The company's earnings per share (EPS) are projected to be $0.45, reflecting a 4.65% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.75 billion, indicating a 3.12% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Fastenal is holding a Zacks Rank of #2 (Buy) right now.
From a valuation perspective, Fastenal is currently exchanging hands at a Forward P/E ratio of 29.22. For comparison, its industry has an average Forward P/E of 12.46, which means Fastenal is trading at a premium to the group.
It is also worth noting that FAST currently has a PEG ratio of 3.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Building Products - Retail industry held an average PEG ratio of 2.03.
The Building Products - Retail industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 194, positioning it in the bottom 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.