Fastenal (FAST) Scheduled to Post Earnings on Friday

Fastenal (NASDAQ:FAST) is scheduled to release its earnings data before the market opens on Friday, January 17th. Analysts expect Fastenal to post earnings of $0.48 per share and revenue of $1,842,560.16 billion for the quarter.

Fastenal Trading Up 0.7 %

Shares of FAST stock traded up $0.53 on Wednesday, reaching $74.27. 3,286,785 shares of the stock were exchanged, compared to its average volume of 2,774,354. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 2.29. Fastenal has a one year low of $61.36 and a one year high of $84.88. The stock has a market cap of $42.55 billion, a PE ratio of 36.95, a P/E/G ratio of 4.64 and a beta of 1.02. The stock has a 50 day moving average price of $78.41 and a 200 day moving average price of $72.81.

Insider Activity at Fastenal

In other news, VP Charles S. Miller sold 23,480 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total transaction of $1,970,441.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel L. Florness sold 31,818 shares of Fastenal stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the completion of the sale, the chief executive officer now directly owns 286,018 shares in the company, valued at approximately $24,168,521. This represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 74,660 shares of company stock worth $6,211,126. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. HSBC cut Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective for the company. in a report on Wednesday, December 11th. Stifel Nicolaus lowered shares of Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a report on Wednesday, December 11th. Hsbc Global Res cut shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 11th. UBS Group assumed coverage on shares of Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Finally, Morgan Stanley increased their target price on Fastenal from $72.00 to $76.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.40.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.