Fastenal Co. (FAST) PT Set at $45.00 by BMO Capital Markets
Fastenal Co. (NASDAQ:FAST) has been given a $45.00 target price by analysts at BMO Capital Markets in a research note issued to investors on Wednesday. The brokerage presently has a a “hold” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 15.21% from the stock’s current price.
Several other brokerages also recently weighed in on FAST. Vetr downgraded Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 target price for the company. in a research report on Tuesday, September 6th. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $43.00 target price on shares of Fastenal in a research report on Friday, June 17th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Fastenal in a research report on Sunday, September 4th. Zacks Investment Research downgraded Fastenal from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 14th. Finally, Macquarie started coverage on Fastenal in a research report on Thursday, August 25th. They issued a “neutral” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.30.
Fastenal (NASDAQ:FAST) traded down 1.72% on Wednesday, reaching $38.39. The company had a trading volume of 3,707,131 shares. Fastenal has a 12 month low of $35.10 and a 12 month high of $49.99. The stock has a 50 day moving average of $41.60 and a 200 day moving average of $44.10. The firm has a market capitalization of $11.09 billion, a PE ratio of 21.94 and a beta of 0.99.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.01. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm had revenue of $1.01 billion for the quarter. During the same period in the previous year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts anticipate that Fastenal will post $1.74 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, October 21st. Fastenal’s dividend payout ratio (DPR) is presently 69.77%.
Several institutional investors have recently bought and sold shares of FAST. Nicholas Investment Partners LP bought a new position in Fastenal during the first quarter valued at approximately $2,870,000. Cleararc Capital Inc. raised its position in shares of Fastenal by 2.1% in the first quarter. Cleararc Capital Inc. now owns 7,241 shares of the company’s stock worth $355,000 after buying an additional 152 shares during the period. Riverhead Capital Management LLC raised its position in shares of Fastenal by 12.1% in the first quarter. Riverhead Capital Management LLC now owns 213,330 shares of the company’s stock worth $10,454,000 after buying an additional 23,105 shares during the period. AXA raised its position in shares of Fastenal by 12.0% in the first quarter. AXA now owns 109,100 shares of the company’s stock worth $5,346,000 after buying an additional 11,700 shares during the period. Finally, Pictet Asset Management Ltd. raised its position in shares of Fastenal by 2.1% in the first quarter. Pictet Asset Management Ltd. now owns 149,030 shares of the company’s stock worth $6,750,000 after buying an additional 3,000 shares during the period. 82.12% of the stock is owned by institutional investors.
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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