Fastenal (FAST) Receiving Somewhat Positive News Coverage, Report Finds

Media coverage about Fastenal (NASDAQ:FAST) has trended somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fastenal earned a news impact score of 0.11 on Accern’s scale. Accern also assigned news stories about the company an impact score of 47.1453413101223 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

These are some of the news stories that may have effected Accern’s scoring:

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Thursday, January 4th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $61.00 target price (up from $52.00) on shares of Fastenal in a report on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $51.00 target price on shares of Fastenal in a report on Monday, December 11th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $51.00 target price (up from $46.00) on shares of Fastenal in a report on Tuesday, October 10th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $52.00 target price on shares of Fastenal in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $53.29.

Fastenal (NASDAQ:FAST) traded down $1.50 during trading on Monday, reaching $52.06. 4,541,801 shares of the company’s stock traded hands, compared to its average volume of 2,760,000. The company has a market cap of $14,960.00, a PE ratio of 25.90, a P/E/G ratio of 1.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 5.51. Fastenal has a 52-week low of $39.79 and a 52-week high of $57.81.

Fastenal (NASDAQ:FAST) last released its quarterly earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Fastenal had a net margin of 13.18% and a return on equity of 27.39%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. equities analysts forecast that Fastenal will post 2.46 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be issued a $0.37 dividend. This is a boost from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a yield of 2.84%. The ex-dividend date is Tuesday, January 30th. Fastenal’s dividend payout ratio is currently 73.63%.

In other Fastenal news, insider James C. Jansen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $48.50, for a total transaction of $485,000.00. Following the transaction, the insider now owns 22,588 shares in the company, valued at approximately $1,095,518. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles S. Miller sold 26,250 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $56.50, for a total transaction of $1,483,125.00. Following the transaction, the insider now owns 26,250 shares in the company, valued at approximately $1,483,125. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,996 shares of company stock worth $4,064,944. Insiders own 0.55% of the company’s stock.

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Fastenal Company Profile

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

Insider Buying and Selling by Quarter for Fastenal (NASDAQ:FAST)

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