Fastenal (FAST) to Release Q2 Results

What's Happening With FAST View more about FAST >

Fastenal (FAST) will report its Q3 results before the market open October 11. Analysts forecast Fastenal to post earnings of $0.36 per share, down from $0.69 during the same period last year. FAST stock is up 20.8% year to date. 

Technical Analysis

FAST was recently trading at $31.59 down $4.35 from its 12-month high and $7.58 above its 12-month low. InvestorsObserver’s Stock Score Report gives FAST a 72 long-term technical score and a 59 short-term technical score. The stock has recent support above $29 and recent resistance below $33. Of the 12 analysts who cover the stock 3 rate it Strong Buy, 0 rate it Buy, 9 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, FAST gets a score of 60 from InvestorsObserver’s Stock Score Report.

Analysts' Thoughts

FAST stock has outperformed the market in 2019 despite a weaker than expected report in July with profits and sales falling short of estimates. The stock took a hit following the disappointing report but quickly regained its footing and traded higher before selling off over the last week in sympathy to weakness in the overall market. The company has done a good job growing profits with earnings up 10.3% per annum the last five years and looking ahead analysts forecast per annum earnings growth of 19% over the next five years. The stock trades at 23 times earnings, which is a bit high, but if the company is able to show 19% annual earnings growth moving forward the stock will continue to build on its recent gains, but another earnings miss like last quarter will drive shares lower. Analysts have an average price target of $32.50.

About Fastenal Company

Fastenal opened its first fastener store in 1967 in Winona, Minnesota. Since then, Fastenal has greatly expanded its footprint as well as its products and services. Today, Fastenal serves its 400,000 active customers through approximately 2,200 stores, 950 on-site locations, and 14 distribution centers. Since 1993, the company has added other product categories, but fasteners remain its largest category at about 35% of sales. Fastenal also offers customers supply-chain solutions, such as vending and vendor-managed inventory.

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