Fastenal (NASDAQ:FAST) has received a consensus rating of “Buy” from the seventeen brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $53.36.
A number of equities research analysts have weighed in on FAST shares. Robert W. Baird reaffirmed a “buy” rating and issued a $57.00 target price on shares of Fastenal in a report on Tuesday, March 6th. Northcoast Research set a $60.00 price objective on Fastenal and gave the company a “buy” rating in a report on Friday, March 2nd. Zacks Investment Research raised Fastenal from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, January 19th. Credit Suisse Group raised Fastenal to a “buy” rating and set a $61.00 price objective on the stock in a report on Thursday, January 18th. Finally, Stephens raised their price objective on Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, January 18th.
Shares of FAST stock traded up $0.91 during trading hours on Wednesday, reaching $57.23. The company had a trading volume of 1,007,715 shares, compared to its average volume of 2,732,760. The firm has a market capitalization of $16,470.70, a P/E ratio of 28.43, a P/E/G ratio of 1.62 and a beta of 0.99. Fastenal has a 1-year low of $39.79 and a 1-year high of $58.74. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20.
Fastenal (NASDAQ:FAST) last issued its earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. sell-side analysts predict that Fastenal will post 2.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Wednesday, January 31st were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a dividend yield of 2.59%. Fastenal’s dividend payout ratio (DPR) is 73.63%.
In other news, insider William Joseph Drazkowski sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $56.64, for a total value of $424,800.00. Following the completion of the sale, the insider now directly owns 9,460 shares in the company, valued at approximately $535,814.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Charles S. Miller sold 26,250 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $56.50, for a total value of $1,483,125.00. Following the completion of the sale, the insider now owns 26,250 shares of the company’s stock, valued at $1,483,125. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in FAST. Amundi Pioneer Asset Management Inc. acquired a new position in Fastenal during the 3rd quarter valued at about $64,702,000. Neuberger Berman Group LLC acquired a new position in Fastenal during the 3rd quarter valued at about $56,907,000. Janus Henderson Group PLC boosted its stake in Fastenal by 58.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,889,428 shares of the company’s stock valued at $131,700,000 after purchasing an additional 1,066,773 shares during the last quarter. Element Capital Management LLC acquired a new position in Fastenal during the 4th quarter valued at about $44,222,000. Finally, Elkfork Partners LLC acquired a new position in Fastenal during the 4th quarter valued at about $43,602,000. Institutional investors and hedge funds own 84.92% of the company’s stock.
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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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