cardinal rule: alway buy .5% lower than your first gut buy price feeling. Got it now, sir?
Sentiment: Strong Sell
I've always watched it, never held it. Looking like a day to get in...but I can't find any news on it. Trying to determine if its a good stock on sale, or a falling knife...
So basically flat gross margins and slower revenue growth until 2014. Not much excitement to buy even on this drop huh...
Search for "SEC Live Filings Digest" to find out more.
Fastenal Company (FAST) reported its quarterly earnings for the third quarter of fiscal 2013 were up 9.2%. Sales increased 7% to $858.4M while its gross margin slightly improved from 51.6% to 51.7%. Earnings for the quarter were up from $109.3M and $0.37 per share a year ago to $119.4M, or $0.40 earnings per share. Fastenal cautioned that sales growth continues to be impacted by adverse global economic conditions and uncertain U.S. domestic policy. Analysts are projecting that revenue in the non-residential and industrial construction markets are flat, with no increase expected until 2014. As of September 30, Fastenal operates 2,686 stores, a 1.4% increase from a year ago.
Don't wait too long. Many folks watched the price increase significantly before they decided to buy. They could have had it at a much better price but hesitated too long.
Whoa....be still my heart. 5% sales increase? Stock price rising due to hitting earnings, earnings hit due to decreased expenses, biggest expense = labor. This supports "manymoonlitnights" statement of losing quality people and replcing with newbies/morons and paying up to half of what the quality persons were earning. If I'm not mistaken they are experiencing their single WORST growth year in history, including recession year of 2009. As a former employee and current shareholder, I love what they're doing......keep the stock high, I've got an order in to sell some at $52!!
So how do you explain the stock topping $48 and a 5% increase in sales?
just too many wannabe wheeler dealers tripping over dollars in order to scoop up nickels and dimes