Fastenal (NASDAQ:FAST) had its target price hoisted by research analysts at Buckingham Research from $33.00 to $36.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the stock. Buckingham Research’s price target indicates a potential downside of 2.17% from the company’s current price.
FAST has been the subject of a number of other reports. Robert W. Baird raised their target price on shares of Fastenal from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Cleveland Research restated a “hold” rating on shares of Fastenal in a research report on Tuesday, September 24th. Zacks Investment Research downgraded Fastenal from a “hold” rating to a “sell” rating and set a $38.00 price target for the company. in a research report on Monday, October 14th. Morgan Stanley raised their price target on Fastenal from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Edward Jones downgraded Fastenal from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $74.11.
Shares of FAST opened at $36.80 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.51 and a quick ratio of 2.00. Fastenal has a 1 year low of $28.38 and a 1 year high of $37.94. The company has a 50 day simple moving average of $36.58 and a two-hundred day simple moving average of $33.79. The firm has a market cap of $21.11 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25.
Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, January 17th. The company reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. Fastenal had a net margin of 14.83% and a return on equity of 31.16%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm posted $0.60 earnings per share. Fastenal’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Fastenal will post 1.45 earnings per share for the current year.
In other news, EVP Charles S. Miller sold 4,376 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $35.98, for a total transaction of $157,448.48. Following the completion of the transaction, the executive vice president now directly owns 11,876 shares of the company’s stock, valued at approximately $427,298.48. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sheryl Ann Lisowski sold 20,578 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $36.94, for a total value of $760,151.32. Following the transaction, the chief accounting officer now directly owns 17,266 shares of the company’s stock, valued at $637,806.04. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its holdings in Fastenal by 2.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 28,786 shares of the company’s stock valued at $1,063,000 after buying an additional 641 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Fastenal by 4.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 93,984 shares of the company’s stock valued at $3,473,000 after purchasing an additional 3,905 shares in the last quarter. Huntington National Bank increased its holdings in shares of Fastenal by 7.8% in the 4th quarter. Huntington National Bank now owns 15,791 shares of the company’s stock valued at $584,000 after acquiring an additional 1,145 shares during the last quarter. OLD National Bancorp IN increased its holdings in shares of Fastenal by 0.4% in the 4th quarter. OLD National Bancorp IN now owns 209,916 shares of the company’s stock valued at $7,757,000 after acquiring an additional 819 shares during the last quarter. Finally, Palisade Asset Management LLC increased its holdings in shares of Fastenal by 2.2% in the 4th quarter. Palisade Asset Management LLC now owns 61,874 shares of the company’s stock valued at $2,286,000 after acquiring an additional 1,356 shares during the last quarter. Hedge funds and other institutional investors own 84.45% 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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