Somewhat Positive News Coverage Somewhat Unlikely to Affect Fastenal (FAST) Stock Price

Media stories about Fastenal (NASDAQ:FAST) have been trending somewhat positive this week, according to Accern Sentiment. Accern scores the sentiment of press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Fastenal earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned media stories about the company an impact score of 46.0102417668369 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.

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

Shares of Fastenal (FAST) traded up $0.50 during mid-day trading on Friday, hitting $55.59. 2,125,520 shares of the stock were exchanged, compared to its average volume of 2,161,833. Fastenal has a 52-week low of $39.79 and a 52-week high of $55.92. The company has a market capitalization of $15,980.00, a price-to-earnings ratio of 29.73, a PEG ratio of 1.84 and a beta of 1.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. sell-side analysts forecast that Fastenal will post 1.93 EPS for the current year.

FAST has been the subject of a number of recent research reports. Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a research report on Wednesday, October 11th. Morgan Stanley restated an “equal weight” rating and set a $46.00 price objective (up from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. BMO Capital Markets restated a “hold” rating and set a $57.00 price objective on shares of Fastenal in a research note on Tuesday. KeyCorp restated a “buy” rating and set a $52.00 price objective on shares of Fastenal in a research note on Thursday, October 12th. Finally, Stifel Nicolaus restated a “hold” rating and set a $51.00 price objective on shares of Fastenal in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Fastenal currently has a consensus rating of “Buy” and a consensus target price of $53.00.

In related news, insider Leland J. Hein sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. Following the completion of the sale, the insider now directly owns 22,588 shares in the company, valued at $1,151,988. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary A. Polipnick sold 2,634 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $53.45, for a total transaction of $140,787.30. Following the sale, the insider now owns 59,323 shares of the company’s stock, valued at $3,170,814.35. The disclosure for this sale can be found here. Insiders sold 82,746 shares of company stock valued at $4,020,619 over the last quarter. Company 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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