Could Fastenal Company See a Reversal After Today’s Strong Options Activity?

 Could Fastenal Company See a Reversal After Today's Strong Options Activity?

In today’s session Fastenal Company (FAST) recorded an unusually high (3,016) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious FAST decrease. With 3,016 contracts traded and 97894 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: FAST170120P00040000 closed last at: $0.2 or 33.3% down. About 259,900 shares traded hands. Fastenal Company (NASDAQ:FAST) has risen 0.28% since April 28, 2016 and is uptrending. It has underperformed by 5.65% the S&P500.

Analysts await Fastenal Company (NASDAQ:FAST) to report earnings on January, 20. They expect $0.38 earnings per share, down 2.56% or $0.01 from last year’s $0.39 per share. FAST’s profit will be $110.74 million for 31.72 P/E if the $0.38 EPS becomes a reality. After $0.44 actual earnings per share reported by Fastenal Company for the previous quarter, Wall Street now forecasts -13.64% negative EPS growth.

Fastenal Company (NASDAQ:FAST) Ratings Coverage

Out of 11 analysts covering Fastenal (NASDAQ:FAST), 0 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 0 are positive. $57 is the highest target while $27 is the lowest. The $45.78 average target is -5.04% below today’s ($48.21) stock price. Fastenal has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was initiated by KeyBanc Capital Markets on Tuesday, July 21 with “Sector Weight”. As per Friday, April 1, the company rating was downgraded by Stifel Nicolaus. The rating was initiated by Sterne Agee CRT on Tuesday, March 22 with “Neutral”. The stock has “Neutral” rating given by Credit Suisse on Tuesday, September 15. William Blair maintained the stock with “Hold” rating in Friday, September 4 report. As per Friday, October 14, the company rating was downgraded by Argus Research. As per Wednesday, October 14, the company rating was maintained by Stifel Nicolaus. The company was maintained on Tuesday, August 25 by William Blair. The rating was maintained by Barclays Capital with “Underweight” on Monday, October 5. The stock of Fastenal Company (NASDAQ:FAST) has “Market Perform” rating given on Thursday, April 7 by Avondale.

According to Zacks Investment Research, “Fastenal Company sells industrial and construction supplies grouped into eleven product lines. The traditional Fastenal® product line consists of threaded fasteners and other miscellaneous supplies. The Company also sells, in its other ten product lines, tools, metal cutting tool blades and blade resharpening services, fluid transfer components and accessories for hydraulic and pneumatic power, material handling and storage products, janitorial and paper products, electrical supplies, welding supplies, safety supplies, and raw materials.”

Insitutional Activity: The institutional sentiment decreased to 1.03 in 2016 Q2. Its down 0.26, from 1.29 in 2016Q1. The ratio turned negative, as 49 funds sold all Fastenal Company shares owned while 166 reduced positions. 57 funds bought stakes while 220 increased positions. They now own 231.91 million shares or 8.00% less from 252.08 million shares in 2016Q1.
Cetera Advisors Ltd Liability Corporation last reported 4,744 shares in the company. The Georgia-based Atlantic Tru Limited Liability Com has invested 0.01% in Fastenal Company (NASDAQ:FAST). Teacher Retirement Systems Of Texas has 33,150 shares for 0.01% of their US portfolio. Allsquare Wealth Mngmt Llc last reported 136 shares in the company. State Common Retirement Fund has 958,800 shares for 0.06% of their US portfolio. State Of Tennessee Treasury Department holds 0.01% of its portfolio in Fastenal Company (NASDAQ:FAST) for 64,113 shares. Bokf Na has invested 0.05% of its portfolio in Fastenal Company (NASDAQ:FAST). Price T Rowe Md has 661,395 shares for 0.01% of their US portfolio. Blackrock Grp Inc Ltd has 2.21M shares for 0.05% of their US portfolio. Moreover, Suntrust Banks has 0% invested in Fastenal Company (NASDAQ:FAST) for 8,361 shares. Livforsakringsbolaget Skandia Omsesidigt holds 20,455 shares or 0.04% of its portfolio. Advantus Cap Mngmt has invested 0.03% of its portfolio in Fastenal Company (NASDAQ:FAST). Utah Retirement Systems accumulated 52,540 shares or 0.06% of the stock. Renaissance Technologies Limited Liability Com holds 0.04% or 487,144 shares in its portfolio. Janney Montgomery Scott Llc reported 40,832 shares or 0.03% of all its holdings.

Insider Transactions: Since September 9, 2016, the stock had 2 insider purchases, and 1 sale for $5,624 net activity. On Friday, September 9 Ancius Michael J bought $24,600 worth of the stock or 600 shares. $46,150 worth of shares were sold by Hein LeLand J on Wednesday, November 23.

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The company has a market cap of $14.05 billion. The Firm distributes these supplies through a network of approximately 2,600 Company-owned stores. It has a 28.09 P/E ratio. The Firm sells industrial and construction supplies to end users , and also has a walk-in retail business.

FAST Company Profile

Fastenal Company, incorporated on December 24, 1968, is engaged in wholesale distribution of industrial and construction supplies. The Firm distributes these supplies through a network of approximately 2,600 Company-owned stores. The Firm sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business. The Firm operates approximately 10 distribution centers in North America. The Company’s clients are in the manufacturing and non-residential construction markets. The manufacturing market includes both original equipment manufacturers (OEM), and maintenance and repair activities (MRO). The non-residential construction market includes general, electrical, plumbing, sheet metal and road contractors. Other users of its products include farmers, truckers, railroads, mining companies, schools and certain retail trades.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment