Robert W. Baird Issues Positive Forecast for Fastenal (NASDAQ:FAST) Stock Price

Fastenal (NASDAQ:FAST) had its price target lifted by investment analysts at Robert W. Baird from $49.00 to $51.00 in a note issued to investors on Thursday,MarketScreener reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 7.75% from the company’s previous close.

FAST has been the topic of a number of other research reports. UBS Group reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Fastenal in a research report on Wednesday, January 21st. Wolfe Research cut their price target on shares of Fastenal from $43.00 to $42.00 and set an “underperform” rating on the stock in a report on Wednesday, January 21st. Barclays set a $43.00 price objective on shares of Fastenal and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.18.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $47.33 on Thursday. The firm has a market cap of $54.34 billion, a price-to-earnings ratio of 43.03, a P/E/G ratio of 3.07 and a beta of 0.89. Fastenal has a 1 year low of $35.31 and a 1 year high of $50.63. 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 business has a fifty day simple moving average of $42.39 and a 200 day simple moving average of $44.47.

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

Insiders Place Their Bets

In other news, Director Hsenghung Sam Hsu bought 1,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average cost of $49.58 per share, with a total value of $49,580.00. Following the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $495,800. This represents a 11.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Satterlee sold 15,964 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total value of $705,449.16. Following the transaction, the director directly owned 50,000 shares in the company, valued at $2,209,500. This trade represents a 24.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

Institutional Trading of Fastenal

A number of large investors have recently bought and sold shares of the business. SOA Wealth Advisors LLC. lifted its position in Fastenal by 71.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock valued at $30,000 after acquiring an additional 255 shares in the last quarter. REAP Financial Group LLC acquired a new position in shares of Fastenal during the third quarter worth about $30,000. Elyxium Wealth LLC acquired a new position in shares of Fastenal during the fourth quarter worth about $25,000. Private Wealth Management Group LLC grew its holdings in shares of Fastenal by 111.9% during the second quarter. Private Wealth Management Group LLC now owns 642 shares of the company’s stock worth $27,000 after buying an additional 339 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Fastenal in the 2nd quarter valued at approximately $27,000. 81.38% of the stock is owned by institutional investors.

Fastenal Company Profile

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.