Fastenal (NASDAQ:FAST) Given Consensus Rating of “Hold” by Analysts

Shares of Fastenal (NASDAQ:FASTGet Rating) have earned an average rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $60.17.

Several research analysts have recently weighed in on FAST shares. Wells Fargo & Company boosted their price objective on shares of Fastenal from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday. StockNews.com raised shares of Fastenal from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird increased their price objective on shares of Fastenal from $64.00 to $66.00 in a research note on Monday, March 7th. Finally, Morgan Stanley upped their price target on shares of Fastenal from $53.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday.

In other Fastenal news, Director Michael J. Ancius bought 650 shares of Fastenal stock in a transaction dated Thursday, April 14th. The stock was purchased at an average price of $56.41 per share, for a total transaction of $36,666.50. Following the completion of the purchase, the director now directly owns 25,952 shares of the company’s stock, valued at $1,463,952.32. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael J. Ancius bought 730 shares of Fastenal stock in a transaction dated Thursday, January 20th. The stock was acquired at an average price of $57.18 per share, with a total value of $41,741.40. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. JFS Wealth Advisors LLC grew its stake in Fastenal by 141.0% during the third quarter. JFS Wealth Advisors LLC now owns 482 shares of the company’s stock valued at $25,000 after acquiring an additional 282 shares in the last quarter. Mascoma Wealth Management LLC bought a new stake in Fastenal during the fourth quarter valued at approximately $26,000. Sonora Investment Management LLC lifted its position in Fastenal by 136.7% during the third quarter. Sonora Investment Management LLC now owns 632 shares of the company’s stock valued at $33,000 after purchasing an additional 365 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Fastenal during the fourth quarter valued at approximately $33,000. Finally, Cornerstone Advisory LLC bought a new stake in Fastenal during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 77.18% of the company’s stock.

Shares of NASDAQ FAST traded down $4.03 during mid-day trading on Monday, hitting $54.95. 3,723,596 shares of the stock were exchanged, compared to its average volume of 3,575,927. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.92 and a current ratio of 4.07. The company has a market cap of $31.63 billion, a P/E ratio of 32.05, a PEG ratio of 3.35 and a beta of 1.33. The stock’s fifty day simple moving average is $55.30 and its two-hundred day simple moving average is $57.55. Fastenal has a twelve month low of $48.84 and a twelve month high of $64.75.

Fastenal (NASDAQ:FASTGet Rating) last posted its quarterly earnings data on Wednesday, April 13th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Fastenal had a net margin of 15.63% and a return on equity of 32.72%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. As a group, equities research analysts predict that Fastenal will post 1.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Wednesday, April 27th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, April 26th. Fastenal’s payout ratio is currently 72.52%.

Fastenal Company Profile (Get Rating)

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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Analyst Recommendations for Fastenal (NASDAQ:FAST)

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