Fastenal (FAST) Receives $50.93 Average Target Price from Analysts
Shares of Fastenal (NASDAQ:FAST) have received an average rating of “Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $50.93.
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $51.00 price target (up from $46.00) on shares of Fastenal in a report on Tuesday, October 10th. Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $51.00 price target on shares of Fastenal in a report on Monday. Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price target (up from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, BidaskClub lowered shares of Fastenal from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd.
Fastenal (NASDAQ:FAST) traded down $0.57 during trading on Monday, hitting $52.54. 1,930,198 shares of the stock traded hands, compared to its average volume of 2,787,807. Fastenal has a 52 week low of $39.79 and a 52 week high of $55.35. The firm has a market capitalization of $15,160.00, a price-to-earnings ratio of 28.17, a P/E/G ratio of 1.96 and a beta of 1.08. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Fastenal had a net margin of 12.73% and a return on equity of 27.28%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. sell-side analysts forecast that Fastenal will post 1.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Tuesday, October 24th. Fastenal’s dividend payout ratio is currently 68.09%.
In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $48.74, for a total transaction of $487,400.00. Following the transaction, the insider now directly owns 20,258 shares of the company’s stock, valued at $987,374.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,112 shares of company stock valued at $3,879,832. 0.55% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Commonwealth Bank of Australia grew its holdings in Fastenal by 44.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock worth $104,000 after acquiring an additional 753 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Fastenal during the 3rd quarter worth $114,000. Cable Hill Partners LLC acquired a new position in Fastenal during the 3rd quarter worth $126,000. Krilogy Financial LLC grew its holdings in Fastenal by 2.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock worth $154,000 after acquiring an additional 70 shares in the last quarter. Finally, QS Investors LLC grew its holdings in Fastenal by 1.6% during the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock worth $176,000 after acquiring an additional 63 shares in the last quarter. 84.67% of the stock is owned by institutional investors.
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Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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