Fastenal Co. (NASDAQ:FAST)‘s stock had its “neutral” rating reaffirmed by stock analysts at Robert W. Baird in a research report issued on Thursday. They presently have a $45.00 price objective on the stock. Robert W. Baird’s price target suggests a potential upside of 17.37% from the company’s current price.

A number of other research firms also recently weighed in on FAST. Zacks Investment Research raised Fastenal from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Morgan Stanley began coverage on Fastenal in a report on Thursday, July 7th. They set an “equal weight” rating and a $46.00 price objective on the stock. Vetr downgraded Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price objective on the stock. in a report on Tuesday, September 6th. Macquarie began coverage on Fastenal in a report on Thursday, August 25th. They set a “neutral” rating and a $50.00 price objective on the stock. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and set a $43.00 price objective on shares of Fastenal in a report on Friday, June 17th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $47.15.

Analyst Recommendations for Fastenal (NASDAQ:FAST)

Fastenal (NASDAQ:FAST) opened at 38.34 on Thursday. Fastenal has a 12 month low of $35.10 and a 12 month high of $49.99. The stock’s 50 day moving average price is $41.29 and its 200 day moving average price is $43.99. The firm has a market capitalization of $11.08 billion, a PE ratio of 21.91 and a beta of 0.99.

Fastenal (NASDAQ:FAST) last released its earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The firm had revenue of $1.01 billion for the quarter. During the same quarter in the previous year, the business posted $0.47 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts expect that Fastenal will post $1.74 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, October 25th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, October 21st. Fastenal’s dividend payout ratio (DPR) is presently 69.77%.

A number of hedge funds and other institutional investors have recently bought and sold shares of FAST. Cantab Capital Partners LLP bought a new position in Fastenal during the second quarter valued at $119,000. American Research & Management Co. boosted its stake in shares of Fastenal by 191.5% in the second quarter. American Research & Management Co. now owns 2,740 shares of the company’s stock valued at $122,000 after buying an additional 1,800 shares during the last quarter. Washington Trust Bank boosted its stake in shares of Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock valued at $123,000 after buying an additional 62 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Fastenal by 32.0% in the second quarter. Van ECK Associates Corp now owns 3,131 shares of the company’s stock valued at $139,000 after buying an additional 759 shares during the last quarter. Finally, FineMark National Bank & Trust boosted its stake in shares of Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock valued at $152,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

About Fastenal

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.

5 Day Chart for NASDAQ:FAST

Receive News & Stock Ratings for Fastenal Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal Co. and related stocks with our FREE daily email newsletter.