Fastenal (FAST) Getting Somewhat Positive News Coverage, Study Finds

Headlines about Fastenal (NASDAQ:FAST) have been trending somewhat positive on Friday, according to Accern. Accern ranks the sentiment of press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fastenal earned a coverage optimism score of 0.16 on Accern’s scale. Accern also gave media stories about the company an impact score of 46.0102417668369 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

Here are some of the media stories that may have impacted Accern’s analysis:

Several analysts recently issued reports on the stock. BMO Capital Markets restated a “hold” rating and set a $57.00 target price on shares of Fastenal in a research report on Tuesday. Credit Suisse Group restated an “outperform” rating and set a $61.00 target price (up from $52.00) on shares of Fastenal in a research report on Tuesday. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Thursday, January 4th. Stifel Nicolaus restated a “hold” rating and set a $51.00 target price on shares of Fastenal in a research report on Monday, December 11th. Finally, KeyCorp restated a “buy” rating and set a $52.00 target price on shares of Fastenal in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $53.00.

Shares of Fastenal (NASDAQ FAST) traded up $0.50 during trading hours on Friday, reaching $55.59. 2,125,520 shares of the company’s stock traded hands, compared to its average volume of 2,161,833. Fastenal has a twelve month low of $39.79 and a twelve month high of $55.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. The stock has a market capitalization of $15,980.00, a P/E ratio of 29.73, a P/E/G ratio of 1.84 and a beta of 1.09.

Fastenal (NASDAQ:FAST) last released its earnings results on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. research analysts expect that Fastenal will post 1.93 EPS for the current year.

In other news, insider Leland J. Hein sold 10,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $47.14, for a total value of $471,400.00. Following the transaction, the insider now owns 21,290 shares of the company’s stock, valued at $1,003,610.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary A. Polipnick sold 2,634 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $53.45, for a total transaction of $140,787.30. Following the completion of the transaction, the insider now directly owns 59,323 shares in the company, valued at approximately $3,170,814.35. The disclosure for this sale can be found here. Insiders sold 82,746 shares of company stock worth $4,020,619 in the last three months. 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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