Fastenal (NASDAQ:FAST) had its price target reduced by investment analysts at Raymond James from $39.00 to $37.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 19.55% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Northcoast Research lowered Fastenal from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. BidaskClub upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Buckingham Research set a $31.00 price objective on Fastenal and gave the stock a “neutral” rating in a report on Friday, June 14th. Finally, William Blair reiterated a “market perform” rating on shares of Luminex in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.31.

Shares of NASDAQ FAST opened at $30.95 on Friday. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 1.35 and a beta of 1.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.68 and a quick ratio of 1.97. The business has a 50-day simple moving average of $31.78. Fastenal has a twelve month low of $24.00 and a twelve month high of $35.94.

Fastenal (NASDAQ:FAST) last announced its earnings results on Thursday, July 11th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Fastenal had a return on equity of 32.27% and a net margin of 14.74%. Fastenal’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. On average, sell-side analysts expect that Fastenal will post 1.41 EPS for the current fiscal year.

In other news, insider Leland J. Hein sold 19,929 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $70.37, for a total value of $1,402,403.73. Following the completion of the transaction, the insider now directly owns 14,931 shares in the company, valued at approximately $1,050,694.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Willard D. Oberton sold 25,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $70.85, for a total value of $1,771,250.00. The disclosure for this sale can be found here. Insiders sold a total of 163,470 shares of company stock valued at $11,485,007 over the last quarter. Company insiders own 0.56% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. UNIVEST FINANCIAL Corp boosted its holdings in Fastenal by 95.1% during the 2nd quarter. UNIVEST FINANCIAL Corp now owns 14,018 shares of the company’s stock valued at $457,000 after acquiring an additional 6,834 shares during the period. Stonebridge Capital Management Inc. boosted its holdings in Fastenal by 67.9% during the 2nd quarter. Stonebridge Capital Management Inc. now owns 44,780 shares of the company’s stock valued at $1,460,000 after acquiring an additional 18,115 shares during the period. Welch & Forbes LLC boosted its holdings in Fastenal by 77.2% during the 2nd quarter. Welch & Forbes LLC now owns 10,330 shares of the company’s stock valued at $337,000 after acquiring an additional 4,500 shares during the period. Country Club Trust Company n.a. boosted its holdings in Fastenal by 100.0% during the 2nd quarter. Country Club Trust Company n.a. now owns 23,000 shares of the company’s stock valued at $750,000 after acquiring an additional 11,500 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Fastenal by 97.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 198,772 shares of the company’s stock valued at $6,478,000 after acquiring an additional 98,236 shares during the period. Institutional investors own 85.36% of the company’s stock.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as 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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