Fastenal (FAST) Stock Rating Reaffirmed by Stifel Nicolaus
A number of other research analysts also recently commented on the stock. KeyCorp reaffirmed a buy rating and set a $52.00 price objective on shares of Fastenal in a research note on Thursday, October 12th. BMO Capital Markets reaffirmed a market perform rating and set a $51.00 price objective (up previously from $46.00) on shares of Fastenal in a research note on Tuesday, October 10th. Stephens set a $54.00 price objective on shares of Fastenal and gave the company a buy rating in a research note on Wednesday, October 11th. Morgan Stanley reaffirmed an equal weight rating and set a $46.00 price objective (up previously from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. Finally, BidaskClub downgraded shares of Fastenal from a sell rating to a strong sell rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $51.13.
Fastenal (NASDAQ:FAST) opened at $52.54 on Monday. Fastenal has a one year low of $39.79 and a one year high of $55.35. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21. The company has a market cap of $15,263.30, a PE ratio of 28.25, a PEG ratio of 1.97 and a beta of 1.08.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Wednesday, October 11th. The company reported $0.50 EPS for the quarter, meeting the Zacks’ 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 the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The company’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 year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, October 25th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Tuesday, October 24th. Fastenal’s dividend payout ratio (DPR) is presently 68.09%.
In related news, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leland J. Hein sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. Following the sale, the insider now directly owns 22,588 shares of the company’s stock, valued at approximately $1,151,988. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,112 shares of company stock valued at $3,879,832. Corporate insiders own 0.55% of the company’s stock.
Large investors have recently modified their holdings of the business. Commonwealth Bank of Australia grew its position in Fastenal by 44.9% in the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after acquiring an additional 753 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Fastenal in the third quarter valued at approximately $114,000. Cable Hill Partners LLC acquired a new stake in Fastenal in the third quarter valued at approximately $126,000. Krilogy Financial LLC grew its position in Fastenal by 2.0% in the second quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after acquiring an additional 70 shares in the last quarter. Finally, QS Investors LLC grew its position in Fastenal by 1.6% in the second quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after acquiring an additional 63 shares in the last quarter. 84.67% of the stock is owned by institutional investors.
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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