BidaskClub cut shares of Fastenal (NASDAQ:FAST) from a buy rating to a hold rating in a research report released on Tuesday morning.
Several other analysts have also recently issued reports on FAST. Northcoast Research set a $60.00 price objective on shares of Fastenal and gave the company a buy rating in a research note on Friday, March 2nd. Robert W. Baird reissued a buy rating and set a $57.00 price objective on shares of Fastenal in a research note on Tuesday, March 6th. Goldman Sachs Group initiated coverage on shares of Fastenal in a research note on Sunday, March 18th. They set a sell rating and a $49.00 price objective for the company. Zacks Investment Research cut shares of Fastenal from a buy rating to a hold rating in a research note on Tuesday, March 20th. Finally, Stifel Nicolaus boosted their price objective on shares of Fastenal from $54.00 to $55.00 and gave the company a hold rating in a research note on Tuesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $54.67.
Shares of Fastenal opened at $48.13 on Tuesday, according to MarketBeat.com. Fastenal has a 52-week low of $39.79 and a 52-week high of $58.74. The firm has a market cap of $14.01 billion, a PE ratio of 24.94, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.11 and a quick ratio of 2.30.
Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, April 11th. The company reported $0.61 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company earned $0.46 EPS. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. sell-side analysts expect that Fastenal will post 2.51 EPS for the current fiscal year.
In related news, insider James C. Jansen sold 29,758 shares of Fastenal stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $52.51, for a total transaction of $1,562,592.58. Following the transaction, the insider now owns 22,588 shares in the company, valued at approximately $1,186,095.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen L. Eastman bought 700 shares of Fastenal stock in a transaction that occurred on Friday, April 27th. The shares were acquired at an average price of $50.31 per share, for a total transaction of $35,217.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,155 shares of company stock worth $211,378 in the last 90 days. Company insiders own 0.56% of the company’s stock.
Several large investors have recently bought and sold shares of FAST. Suntrust Banks Inc. lifted its holdings in Fastenal by 10.7% in the 4th quarter. Suntrust Banks Inc. now owns 10,807 shares of the company’s stock worth $589,000 after buying an additional 1,048 shares in the last quarter. Gyroscope Capital Management Group LLC lifted its holdings in Fastenal by 17.2% in the 1st quarter. Gyroscope Capital Management Group LLC now owns 7,698 shares of the company’s stock worth $420,000 after buying an additional 1,132 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Fastenal by 87.8% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,500 shares of the company’s stock worth $135,000 after buying an additional 1,169 shares in the last quarter. Comerica Bank lifted its holdings in Fastenal by 1.1% in the 1st quarter. Comerica Bank now owns 109,998 shares of the company’s stock worth $5,564,000 after buying an additional 1,175 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Fastenal by 1.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 91,520 shares of the company’s stock worth $4,996,000 after buying an additional 1,376 shares in the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.
Fastenal Company Profile
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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