Fastenal (NASDAQ:FAST) Getting Somewhat Positive Press Coverage, Report Finds

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Press coverage about Fastenal (NASDAQ:FAST) has been trending somewhat positive on Friday, Accern Sentiment reports. The research group rates the sentiment of media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Fastenal earned a coverage optimism score of 0.13 on Accern’s scale. Accern also gave media stories about the company an impact score of 46.2901630089068 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

These are some of the media stories that may have effected Accern Sentiment’s rankings:

Shares of NASDAQ:FAST traded up $0.19 during trading on Friday, hitting $58.36. 2,135,400 shares of the company were exchanged, compared to its average volume of 2,843,342. The company has a market capitalization of $16.86 billion, a PE ratio of 30.24, a P/E/G ratio of 1.64 and a beta of 1.03. The company has a current ratio of 5.62, a quick ratio of 2.57 and a debt-to-equity ratio of 0.19. Fastenal has a 12-month low of $40.76 and a 12-month high of $61.14.

Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, July 11th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. equities research analysts predict that Fastenal will post 2.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 22nd. Stockholders of record on Wednesday, July 25th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.74%. This is a boost from Fastenal’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, July 24th. Fastenal’s payout ratio is presently 82.90%.

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Fastenal from $53.00 to $56.00 and gave the company a “hold” rating in a research report on Friday, July 13th. BidaskClub upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Tuesday, July 3rd. ValuEngine upgraded shares of Fastenal from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Finally, Robert W. Baird downgraded shares of Fastenal from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Fastenal has a consensus rating of “Hold” and an average price target of $55.55.

In other Fastenal news, insider Terry Modock Owen bought 2,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were acquired at an average cost of $51.85 per share, with a total value of $103,700.00. Following the acquisition, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $103,700. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Fastenal Company Profile

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

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