Fastenal Company (NASDAQ:FAST) Receives $48.18 Average Target Price from Analysts

Shares of Fastenal Company (NASDAQ:FAST) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $48.1818.

FAST has been the subject of a number of analyst reports. Barclays set a $43.00 price target on Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Robert W. Baird boosted their target price on Fastenal from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Wolfe Research decreased their target price on Fastenal from $43.00 to $42.00 and set an “underperform” rating for the company in a research report on Wednesday, January 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Fastenal in a report on Wednesday, January 21st.

Insider Activity at Fastenal

In other news, Director Scott Satterlee sold 15,964 shares of Fastenal stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $44.19, for a total value of $705,449.16. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $2,209,500. The trade was a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new position in Fastenal during the fourth quarter worth $496,000. Integrated Wealth Concepts LLC grew its position in Fastenal by 2.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company’s stock worth $487,000 after purchasing an additional 147 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Fastenal by 71.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 54,545 shares of the company’s stock worth $2,338,000 after purchasing an additional 22,704 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Fastenal by 97.3% during the second quarter. Mutual of America Capital Management LLC now owns 131,594 shares of the company’s stock valued at $5,527,000 after buying an additional 64,901 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Fastenal by 103.4% in the second quarter. International Assets Investment Management LLC now owns 10,227 shares of the company’s stock valued at $430,000 after buying an additional 5,198 shares during the period. 81.38% of the stock is owned by institutional investors.

Fastenal Price Performance

Shares of FAST opened at $46.22 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 4.85. The firm has a market cap of $53.07 billion, a PE ratio of 42.02, a PEG ratio of 2.95 and a beta of 0.89. The firm’s 50 day moving average price is $43.57 and its 200 day moving average price is $44.45. Fastenal has a twelve month low of $35.31 and a twelve month high of $50.63.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. Fastenal’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, research analysts expect that Fastenal will post 2.15 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Fastenal’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 29th. Fastenal’s dividend payout ratio is currently 87.27%.

Fastenal Company Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.