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Fastenal (FAST) Stock Moves -0.73%: What You Should Know

Zacks Equity Research
·3 mins read

Fastenal (FAST) closed the most recent trading day at $43.72, moving -0.73% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.16%. At the same time, the Dow lost 1.84%, and the tech-heavy Nasdaq lost 0.13%.

Coming into today, shares of the maker of industrial and construction fasteners had lost 8.63% in the past month. In that same time, the Retail-Wholesale sector lost 3.74%, while the S&P 500 lost 1.96%.

FAST will be looking to display strength as it nears its next earnings release, which is expected to be October 13, 2020. On that day, FAST is projected to report earnings of $0.37 per share, which would represent no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.41 billion, up 2.44% from the year-ago period.

FAST's full-year Zacks Consensus Estimates are calling for earnings of $1.46 per share and revenue of $5.61 billion. These results would represent year-over-year changes of +5.8% and +5.21%, respectively.

Any recent changes to analyst estimates for FAST should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.41% higher within the past month. FAST is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, FAST is holding a Forward P/E ratio of 30.16. This represents a premium compared to its industry's average Forward P/E of 18.06.

We can also see that FAST currently has a PEG ratio of 3.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Building Products - Retail stocks are, on average, holding a PEG ratio of 1.18 based on yesterday's closing prices.

The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Zacks Investment Research