Fastenal (NASDAQ:FAST) has been assigned a consensus recommendation of “Buy” from the seventeen research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $51.86.
FAST has been the subject of several analyst reports. KeyCorp restated a “buy” rating and issued a $52.00 target price on shares of Fastenal in a research note on Thursday, October 12th. Stifel Nicolaus restated a “hold” rating and issued a $51.00 target price on shares of Fastenal in a research note on Monday, December 11th. Morgan Stanley restated an “equal weight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. Zacks Investment Research downgraded Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Stephens set a $54.00 target price on Fastenal and gave the stock a “buy” rating in a research note on Wednesday, October 11th.
Fastenal (NASDAQ FAST) traded up $0.22 during mid-day trading on Friday, hitting $54.78. The stock had a trading volume of 2,090,000 shares, compared to its average volume of 2,067,400. 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 company has a market cap of $15,770.00, a P/E ratio of 29.29, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. Fastenal has a 12 month low of $39.79 and a 12 month high of $55.45.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. analysts predict that Fastenal will post 1.93 EPS for the current fiscal year.
In other news, insider Terry Modock Owen sold 30,000 shares of Fastenal stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.02, for a total transaction of $1,440,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary A. Polipnick sold 2,634 shares of Fastenal stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $53.45, for a total value of $140,787.30. Following the sale, the insider now owns 59,323 shares of the company’s stock, valued at approximately $3,170,814.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,746 shares of company stock valued at $4,020,619. Corporate insiders own 0.55% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Bank of Australia raised its holdings in shares of Fastenal by 44.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after buying an additional 753 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Fastenal during the 3rd quarter valued at about $114,000. Cable Hill Partners LLC purchased a new position in shares of Fastenal during the 3rd quarter valued at about $126,000. Krilogy Financial LLC raised its holdings in shares of Fastenal by 2.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after buying an additional 70 shares in the last quarter. Finally, QS Investors LLC raised its holdings in shares of Fastenal by 1.6% during the 2nd quarter. QS Investors LLC now owns 4,051 shares of the company’s stock valued at $176,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.
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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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