Fastenal (NASDAQ:FAST) had its price objective lifted by Buckingham Research from $29.00 to $30.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. They currently have a neutral rating on the stock.
A number of other equities analysts have also weighed in on the company. Morgan Stanley decreased their target price on Fastenal from $31.50 to $29.00 and set an equal weight rating for the company in a research report on Friday, July 12th. ValuEngine lowered shares of Fastenal from a sell rating to a strong sell rating in a research report on Thursday, May 23rd. Zacks Investment Research raised shares of Fastenal from a sell rating to a hold rating and set a $34.00 price target for the company in a research report on Tuesday, September 10th. Raymond James reduced their price target on shares of Fastenal from $39.00 to $37.00 and set a strong-buy rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Co reduced their price target on shares of Fastenal from $35.00 to $30.00 and set a market perform rating for the company in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $31.64.
Shares of NASDAQ:FAST opened at $31.86 on Tuesday. Fastenal has a fifty-two week low of $24.00 and a fifty-two week high of $35.94. The business has a 50-day simple moving average of $30.70 and a two-hundred day simple moving average of $45.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 4.68. The firm has a market cap of $18.85 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 1.50 and a beta of 1.23.
Fastenal (NASDAQ:FAST) last issued its earnings results on Thursday, July 11th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the firm posted $0.37 EPS. Fastenal’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts predict that Fastenal will post 1.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, July 25th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Wednesday, July 24th. Fastenal’s payout ratio is currently 66.67%.
In related news, Director Michael J. Ancius acquired 1,104 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average cost of $30.13 per share, for a total transaction of $33,263.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Sheryl Ann Lisowski sold 5,615 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.50, for a total value of $188,102.50. Following the transaction, the chief accounting officer now owns 10,382 shares of the company’s stock, valued at $347,797. The disclosure for this sale can be found here. Insiders have bought a total of 4,604 shares of company stock valued at $138,479 in the last ninety days. Insiders own 0.56% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Strategy Asset Managers LLC bought a new position in shares of Fastenal during the 1st quarter valued at approximately $32,000. Bremer Bank National Association bought a new position in shares of Fastenal during the 1st quarter valued at approximately $53,000. Farmers & Merchants Investments Inc. grew its stake in shares of Fastenal by 94.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 774 shares of the company’s stock valued at $25,000 after acquiring an additional 375 shares during the period. Advisors Preferred LLC bought a new position in shares of Fastenal during the 2nd quarter valued at approximately $26,000. Finally, Wealthcare Advisory Partners LLC grew its stake in shares of Fastenal by 101.2% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 843 shares of the company’s stock valued at $27,000 after acquiring an additional 424 shares during the period. Institutional investors own 83.85% 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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