Fastenal (NASDAQ:FAST) Rating Increased to Hold at DA Davidson

Fastenal (NASDAQ:FAST) was upgraded by stock analysts at DA Davidson to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird decreased their target price on Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. JPMorgan Chase & Co. lifted their target price on Fastenal from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Morgan Stanley restated a “positive” rating and issued a $45.00 target price on shares of Fastenal in a report on Thursday, March 5th. Benchmark restated a “buy” rating on shares of Fastenal in a report on Thursday, March 5th. Finally, Bank of America lifted their target price on Fastenal from $48.00 to $55.00 in a report on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.57.

Fastenal Stock Down 0.1%

FAST opened at $46.05 on Tuesday. Fastenal has a one year low of $38.97 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.34 and a current ratio of 4.39. The stock’s fifty day moving average is $45.14 and its 200-day moving average is $44.35. The company has a market capitalization of $52.87 billion, a PE ratio of 40.40, a P/E/G ratio of 2.93 and a beta of 0.73.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Monday, April 13th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $0.52 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities analysts predict that Fastenal will post 1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Evergreen Advisors LLC purchased a new position in shares of Fastenal during the first quarter valued at $26,000. Palladiem LLC purchased a new position in shares of Fastenal during the fourth quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in shares of Fastenal during the fourth quarter valued at $25,000. MV Capital Management Inc. purchased a new position in shares of Fastenal during the fourth quarter valued at $29,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Fastenal during the third quarter valued at $36,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

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.