Fastenal (NASDAQ:FAST) – Investment analysts at William Blair upped their Q2 2020 earnings per share (EPS) estimates for shares of Fastenal in a report issued on Tuesday, June 30th. William Blair analyst R. Merkel now expects that the company will earn $0.35 per share for the quarter, up from their previous forecast of $0.32. William Blair also issued estimates for Fastenal’s FY2020 earnings at $1.36 EPS and FY2021 earnings at $1.49 EPS.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, April 14th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Fastenal had a net margin of 14.83% and a return on equity of 30.71%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year.
Several other equities research analysts have also issued reports on the stock. BidaskClub raised shares of Fastenal from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Stephens upped their target price on shares of Fastenal from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. ValuEngine upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Morgan Stanley upped their target price on shares of Fastenal from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Co upgraded shares of Fastenal from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research note on Thursday, March 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $72.10.
Fastenal stock opened at $41.92 on Wednesday. Fastenal has a 52-week low of $26.72 and a 52-week high of $43.20. The firm has a fifty day moving average of $40.68 and a 200-day moving average of $36.73. The firm has a market capitalization of $24.01 billion, a P/E ratio of 30.16, a PEG ratio of 3.48 and a beta of 1.20. The company has a quick ratio of 1.93, a current ratio of 4.25 and a debt-to-equity ratio of 0.23.
A number of hedge funds and other institutional investors have recently bought and sold shares of FAST. Sound Income Strategies LLC lifted its position in shares of Fastenal by 3,046.7% in the 1st quarter. Sound Income Strategies LLC now owns 944 shares of the company’s stock worth $30,000 after buying an additional 914 shares during the last quarter. Royal Fund Management LLC bought a new position in shares of Fastenal in the 1st quarter worth about $31,000. Wealthcare Advisory Partners LLC lifted its position in shares of Fastenal by 36.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,162 shares of the company’s stock worth $36,000 after buying an additional 308 shares during the last quarter. Capital Square LLC bought a new position in shares of Fastenal in the 1st quarter worth about $41,000. Finally, Balentine LLC bought a new position in shares of Fastenal in the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 80.06% of the company’s stock.
In other Fastenal news, VP Leland J. Hein sold 5,473 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $34.84, for a total transaction of $190,679.32. Following the transaction, the vice president now directly owns 10,111 shares in the company, valued at approximately $352,267.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael John Dolan sold 15,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $40.00, for a total transaction of $600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,733 shares of company stock worth $3,997,099 over the last quarter. 0.57% of the stock is currently owned by insiders.
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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