Fastenal (NASDAQ:FAST – Get Rating) had its target price boosted by investment analysts at Robert W. Baird from $64.00 to $66.00 in a research report issued on Monday, The Fly reports. Robert W. Baird’s price objective would indicate a potential upside of 22.29% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Morgan Stanley increased their target price on shares of Fastenal from $53.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, January 20th. Loop Capital lifted their price objective on Fastenal from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Tuesday, December 7th. They noted that the move was a valuation call. Wells Fargo & Company increased their target price on Fastenal from $45.00 to $50.00 in a report on Thursday, January 20th. Finally, StockNews.com cut Fastenal from a “buy” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.17.
NASDAQ FAST opened at $53.97 on Monday. The company has a quick ratio of 1.95, a current ratio of 4.19 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $56.40 and its two-hundred day simple moving average is $56.89. Fastenal has a twelve month low of $43.61 and a twelve month high of $64.75. The company has a market capitalization of $31.06 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 3.35 and a beta of 1.30.
Fastenal (NASDAQ:FAST – Get Rating) last announced its quarterly earnings data on Wednesday, January 19th. The company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. Fastenal had a return on equity of 31.69% and a net margin of 15.39%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm posted $0.34 EPS. Fastenal’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Fastenal will post 1.79 earnings per share for the current fiscal year.
In related news, insider William Joseph Drazkowski sold 6,630 shares of the business’s stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $62.99, for a total transaction of $417,623.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael J. Ancius acquired 730 shares of the stock in a transaction on Thursday, January 20th. The stock was bought at an average price of $57.18 per share, with a total value of $41,741.40. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. JFS Wealth Advisors LLC increased its stake in shares of Fastenal by 141.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 482 shares of the company’s stock worth $25,000 after acquiring an additional 282 shares in the last quarter. Mascoma Wealth Management LLC purchased a new stake in Fastenal in the fourth quarter worth about $26,000. Sonora Investment Management LLC increased its stake in shares of Fastenal by 136.7% during the third quarter. Sonora Investment Management LLC now owns 632 shares of the company’s stock valued at $33,000 after purchasing an additional 365 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Fastenal in the 4th quarter worth approximately $33,000. Finally, Cornerstone Advisory LLC bought a new position in shares of Fastenal during the fourth quarter valued at $38,000. 77.18% of the stock is currently owned by institutional investors.
About Fastenal
Fastenal Co engages in the provision of fasteners, tools, and supplies which can help manufacture products, build structures, protect personnel, and maintain facilities and equipment. Its products include cutting tools and metalworking, fasteners, material handling, storage and packaging power, transmission and motors, tools and equipment, electricals, abrasives, hydraulics and pneumatics, plumbing, lifting and rigging, raw materials, fleet and automotive, welding, office products and furniture, and janitorial supplies.