Fastenal (NASDAQ:FAST)‘s stock had its “hold” rating restated by investment analysts at BMO Capital Markets in a research note issued on Tuesday. They currently have a $57.00 price target on the stock. BMO Capital Markets’ price target suggests a potential upside of 2.96% from the stock’s current price.
FAST has been the topic of several other research reports. KeyCorp reissued a “buy” rating and issued a $52.00 target price on shares of Fastenal in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $51.00 target price on shares of Fastenal in a report on Monday, December 11th. Morgan Stanley reissued an “equal weight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Finally, Stephens set a $54.00 price target on shares of Fastenal and gave the company a “buy” rating in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $53.00.
Fastenal (NASDAQ FAST) traded down $0.11 during mid-day trading on Tuesday, hitting $55.36. 1,917,708 shares of the stock traded hands, compared to its average volume of 2,019,933. Fastenal has a 1 year low of $39.79 and a 1 year high of $55.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.36 and a quick ratio of 2.45. The stock has a market capitalization of $15,920.00, a P/E ratio of 29.60, a PEG ratio of 1.84 and a beta of 1.09.
Fastenal (NASDAQ:FAST) last released its earnings results on Wednesday, October 11th. The company reported $0.50 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. equities analysts expect that Fastenal will post 1.93 EPS for the current fiscal year.
In other news, insider Leland J. Hein sold 10,000 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $47.14, for a total value of $471,400.00. Following the sale, the insider now owns 21,290 shares of the company’s stock, valued at $1,003,610.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gary A. Polipnick sold 2,634 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $53.45, for a total transaction of $140,787.30. Following the completion of the sale, the insider now directly owns 59,323 shares in the company, valued at approximately $3,170,814.35. The disclosure for this sale can be found here. In the last three months, insiders sold 82,746 shares of company stock worth $4,020,619. Insiders own 0.55% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FAST. Carlson Capital Management bought a new position in shares of Fastenal in the fourth quarter worth about $219,000. Atlantic Trust Group LLC grew its holdings in shares of Fastenal by 147.9% in the third quarter. Atlantic Trust Group LLC now owns 51,411 shares of the company’s stock worth $2,343,000 after purchasing an additional 30,674 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Fastenal by 39.2% in the third quarter. Parametric Portfolio Associates LLC now owns 750,028 shares of the company’s stock worth $34,186,000 after purchasing an additional 211,332 shares during the last quarter. Archford Capital Strategies LLC grew its holdings in shares of Fastenal by 46.6% in the third quarter. Archford Capital Strategies LLC now owns 25,384 shares of the company’s stock worth $1,157,000 after purchasing an additional 8,064 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC bought a new position in shares of Fastenal in the third quarter worth about $363,000. 84.54% of the stock is currently owned by institutional investors and hedge funds.
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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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