Analysts Set Fastenal Company (NASDAQ:FAST) Target Price at $48.18

Fastenal Company (NASDAQ:FAST) has been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $48.1818.

FAST has been the subject of several recent research reports. Wolfe Research lowered their target price on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, January 21st. Barclays set a $43.00 price objective on Fastenal and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th.

Fastenal Price Performance

FAST opened at $45.05 on Thursday. The company has a current ratio of 4.85, a quick ratio of 2.41 and a debt-to-equity ratio of 0.03. The company has a market cap of $51.73 billion, a price-to-earnings ratio of 40.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.89. The stock has a fifty day simple moving average of $43.62 and a two-hundred day simple moving average of $44.41. Fastenal has a 12-month low of $35.31 and a 12-month high of $50.63.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the firm earned $0.46 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, January 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. This is an increase from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 29th. Fastenal’s payout ratio is 87.27%.

Insider Buying and Selling

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Fastenal

Several institutional investors have recently modified their holdings of the business. Palladiem LLC bought a new position in Fastenal during the 4th quarter valued at about $25,000. SOA Wealth Advisors LLC. raised its holdings in shares of Fastenal by 71.6% during the third quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 255 shares during the last quarter. REAP Financial Group LLC bought a new position in Fastenal during the third quarter valued at approximately $30,000. Elyxium Wealth LLC purchased a new stake in Fastenal in the fourth quarter worth approximately $25,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Fastenal in the second quarter worth approximately $27,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.