For its fourth fiscal quarter (ending December 31), Fastenal Co (NASDAQ: FAST) has reported a 9% increase in E.P.S. from $0.43 a year ago to $0.47 in the current quarter. This result exceeded the consensus estimate of $0.45 by $0.02. For the latest four quarters through December 31, E.P.S. were $2.02 versus $1.89 for the same period a year ago — an increase of 7%.
Recent Price Action
On 1/18/24, Fastenal Co (NASDAQ: FAST) stock enjoyed a very large increase of 7.2%, closing at $67.93. Moreover, exceptionally high trading volume at 370% of normal accompanied the advance. Relative to the market the stock has been strong over the last nine months and has risen 8.6% during the last week.
Current PriceTarget Research Rating
FAST is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Fastenal has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Fastenal has a very low Appreciation Score of 14 but a good Power Rating of 71, triggering the Negative Value Trend Rating.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of D. We would view the shares with optimism pending completion of this review in the next several days.
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