Fastenal (NASDAQ:FAST) Price Target Raised to $80.00

Fastenal (NASDAQ:FAST) had its price objective increased by analysts at Stephens from $75.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Stephens’ target price points to a potential downside of 2.45% from the company’s current price.

FAST has been the topic of several other reports. Stifel Nicolaus reduced their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Robert W. Baird lifted their target price on Fastenal from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday. Wolfe Research upgraded Fastenal from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Finally, William Blair raised Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $77.91.

Fastenal Trading Up 0.9 %

FAST stock opened at $82.01 on Tuesday. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The firm has a market cap of $47.03 billion, a P/E ratio of 40.70, a P/E/G ratio of 3.58 and a beta of 1.05. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The business’s 50 day moving average is $75.71 and its 200-day moving average is $76.43.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Friday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.94 billion. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. Equities analysts anticipate that Fastenal will post 2.15 earnings per share for the current fiscal year.

Institutional Trading of Fastenal

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sound Financial Strategies Group LLC bought a new stake in Fastenal during the 4th quarter worth about $873,000. Matrix Trust Co bought a new stake in shares of Fastenal during the 4th quarter worth approximately $1,756,000. Franklin Resources Inc. boosted its holdings in shares of Fastenal by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 4,572,999 shares of the company’s stock valued at $350,703,000 after buying an additional 165,423 shares during the last quarter. Czech National Bank grew its stake in shares of Fastenal by 6.5% in the fourth quarter. Czech National Bank now owns 124,213 shares of the company’s stock valued at $8,932,000 after buying an additional 7,559 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. increased its holdings in Fastenal by 29.9% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 36,367 shares of the company’s stock worth $2,615,000 after buying an additional 8,380 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

About Fastenal

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