Shares of Fastenal (NASDAQ:FAST) have been given a consensus rating of “Hold” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $55.67.
Several equities analysts recently issued reports on FAST shares. Zacks Investment Research upgraded Fastenal from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Tuesday, September 28th. Robert W. Baird raised their target price on shares of Fastenal from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, December 7th. Loop Capital lifted their target price on shares of Fastenal from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Tuesday, December 7th. They noted that the move was a valuation call. Finally, Wells Fargo & Company cut shares of Fastenal from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $50.00 to $45.00 in a research report on Friday, October 8th.
Shares of Fastenal stock opened at $64.06 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.07 and a current ratio of 4.18. Fastenal has a 52-week low of $43.37 and a 52-week high of $64.75. The company has a fifty day moving average of $60.67 and a 200-day moving average of $56.20. The stock has a market capitalization of $36.84 billion, a price-to-earnings ratio of 41.33, a price-to-earnings-growth ratio of 4.42 and a beta of 1.24.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, October 12th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Fastenal had a net margin of 15.25% and a return on equity of 31.32%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. On average, equities research analysts forecast that Fastenal will post 1.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 23rd. Stockholders of record on Tuesday, October 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, October 25th. This represents a $1.12 annualized dividend and a dividend yield of 1.75%. Fastenal’s dividend payout ratio (DPR) is presently 72.26%.
In other Fastenal news, EVP James C. Jansen sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 6th. The shares were sold at an average price of $62.02, for a total value of $1,550,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Joseph Drazkowski sold 6,630 shares of the company’s stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $62.99, for a total value of $417,623.70. The disclosure for this sale can be found here. Insiders sold 38,058 shares of company stock valued at $2,349,690 in the last ninety days. 0.56% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of FAST. GSA Capital Partners LLP purchased a new position in shares of Fastenal in the 2nd quarter worth about $306,000. American Century Companies Inc. raised its holdings in Fastenal by 27.8% in the second quarter. American Century Companies Inc. now owns 41,637 shares of the company’s stock worth $2,165,000 after buying an additional 9,046 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Fastenal by 3.5% in the second quarter. Orion Portfolio Solutions LLC now owns 6,866 shares of the company’s stock worth $357,000 after buying an additional 229 shares in the last quarter. Swiss National Bank grew its holdings in shares of Fastenal by 6.2% during the second quarter. Swiss National Bank now owns 2,341,907 shares of the company’s stock valued at $121,779,000 after buying an additional 136,469 shares during the last quarter. Finally, Bbva USA bought a new stake in shares of Fastenal during the second quarter valued at approximately $233,000. 77.48% of the stock is currently owned by hedge funds and other institutional investors.
Fastenal Company Profile
Fastenal Co engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & furniture, janitorial and lighting.
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