Fastenal Co. (FAST) Receives $45.91 Consensus Price Target from Analysts
Fastenal Co. (NASDAQ:FAST) has been given an average rating of “Hold” by the fifteen research firms that are currently covering the firm. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $45.91.
A number of equities research analysts have recently commented on FAST shares. Macquarie started coverage on shares of Fastenal in a research report on Thursday, August 25th. They issued a “neutral” rating and a $50.00 target price for the company. Wells Fargo & Co. restated a “hold” rating on shares of Fastenal in a research report on Sunday, September 4th. Vetr cut shares of Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price objective for the company. in a research report on Tuesday, September 6th. Zacks Investment Research upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, BMO Capital Markets set a $45.00 price objective on shares of Fastenal and gave the stock a “hold” rating in a research report on Wednesday, October 12th.
Fastenal (NASDAQ:FAST) opened at 47.40 on Monday. Fastenal has a 1-year low of $35.10 and a 1-year high of $49.99. The stock has a market capitalization of $13.70 billion, a PE ratio of 27.59 and a beta of 0.92. The company’s 50 day moving average is $41.34 and its 200-day moving average is $42.84.
Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.01. The business earned $1.01 billion during the quarter. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS. Analysts forecast that Fastenal will post $1.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, October 21st. Fastenal’s payout ratio is 69.77%.
In other Fastenal news, Director Michael J. Ancius acquired 700 shares of the stock in a transaction dated Thursday, October 13th. The stock was acquired at an average price of $38.82 per share, with a total value of $27,174.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leland J. Hein sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $46.15, for a total transaction of $46,150.00. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighPoint Advisor Group LLC increased its position in shares of Fastenal by 173.5% in the third quarter. HighPoint Advisor Group LLC now owns 16,280 shares of the company’s stock worth $732,000 after buying an additional 10,328 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Fastenal by 4.9% in the third quarter. D.A. Davidson & CO. now owns 205,748 shares of the company’s stock worth $8,593,000 after buying an additional 9,611 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Fastenal during the third quarter worth about $151,000. Price T Rowe Associates Inc. MD increased its position in shares of Fastenal by 5.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 696,405 shares of the company’s stock worth $29,096,000 after buying an additional 35,010 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Fastenal by 10.3% in the third quarter. LPL Financial LLC now owns 24,030 shares of the company’s stock worth $996,000 after buying an additional 2,239 shares in the last quarter. 76.20% of the stock is owned by institutional investors and hedge funds.
Fastenal Company Profile
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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