Fastenal (NASDAQ:FAST) Stock Rating Upgraded by William Blair

Fastenal (NASDAQ:FAST) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a report issued on Monday,Briefing.com Automated Import reports.

Several other research analysts also recently weighed in on the stock. Wolfe Research lifted their target price on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. UBS Group initiated coverage on shares of Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price objective on the stock. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Jefferies Financial Group lifted their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastenal has an average rating of “Hold” and an average target price of $76.91.

Fastenal Price Performance

Shares of NASDAQ:FAST opened at $79.98 on Monday. The company has a market capitalization of $45.86 billion, a PE ratio of 39.79, a price-to-earnings-growth ratio of 3.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The stock has a fifty day moving average of $74.27 and a 200-day moving average of $75.04. Fastenal has a one year low of $61.36 and a one year high of $84.88.

Fastenal (NASDAQ:FAST) last announced its earnings results on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. As a group, equities analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Fastenal

Institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in shares of Fastenal in the 3rd quarter valued at approximately $25,000. Knuff & Co LLC bought a new position in shares of Fastenal in the third quarter valued at approximately $27,000. Itau Unibanco Holding S.A. raised its position in shares of Fastenal by 481.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company’s stock valued at $44,000 after purchasing an additional 506 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Fastenal in the fourth quarter worth $46,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Fastenal during the 4th quarter worth $49,000. Institutional investors and hedge funds own 81.38% 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, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.