Fastenal (NASDAQ:FAST) PT Raised to $64.00

Fastenal (NASDAQ:FAST) had its target price increased by analysts at HSBC from $59.00 to $64.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. HSBC’s price target would suggest a potential downside of 6.96% from the stock’s current price.

FAST has been the topic of a number of other reports. Stifel Nicolaus increased their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Robert W. Baird dropped their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $67.67.

Fastenal Trading Down 0.9 %

NASDAQ:FAST opened at $68.79 on Monday. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $73.72 and its two-hundred day moving average is $66.18. Fastenal has a 52 week low of $52.28 and a 52 week high of $79.04. The company has a market cap of $39.36 billion, a PE ratio of 34.05, a P/E/G ratio of 3.64 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business earned $0.52 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that Fastenal will post 2.15 EPS for the current year.

Insider Activity at Fastenal

In related news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Reyne K. Wisecup sold 34,042 shares of Fastenal stock in a transaction on Friday, January 19th. The stock was sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,369,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Charles S. Miller sold 11,076 shares of Fastenal stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The disclosure for this sale can be found here. Insiders have sold a total of 105,682 shares of company stock worth $7,375,853 in the last three months. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fastenal

Several hedge funds have recently modified their holdings of FAST. Roundview Capital LLC increased its position in shares of Fastenal by 0.6% during the 1st quarter. Roundview Capital LLC now owns 85,339 shares of the company’s stock valued at $5,069,000 after purchasing an additional 479 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Fastenal by 55.3% during the 1st quarter. Vontobel Holding Ltd. now owns 19,099 shares of the company’s stock worth $1,140,000 after acquiring an additional 6,797 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Fastenal by 18.1% during the 1st quarter. Sei Investments Co. now owns 239,760 shares of the company’s stock worth $14,218,000 after acquiring an additional 36,709 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Fastenal by 24.6% during the 1st quarter. Cetera Investment Advisers now owns 26,251 shares of the company’s stock worth $1,559,000 after acquiring an additional 5,190 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its stake in shares of Fastenal by 9.0% during the 1st quarter. Moors & Cabot Inc. now owns 9,534 shares of the company’s stock worth $566,000 after acquiring an additional 786 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Company Profile

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.