Fastenal (NASDAQ:FAST) Receives $51.86 Consensus PT from Brokerages

Fastenal (NASDAQ:FASTGet Rating) has received an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $51.86.

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Saturday, October 15th. Jefferies Financial Group reissued a “hold” rating and issued a $50.00 price target on shares of Fastenal in a research note on Monday, October 17th. Finally, Morgan Stanley increased their price target on shares of Fastenal from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Friday, October 14th.

Fastenal Stock Performance

Shares of NASDAQ:FAST opened at $52.41 on Tuesday. Fastenal has a 12 month low of $43.73 and a 12 month high of $64.75. The company has a market cap of $30.02 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.18. The company has a 50-day moving average price of $48.33 and a 200-day moving average price of $50.29. The company has a current ratio of 3.98, a quick ratio of 1.89 and a debt-to-equity ratio of 0.13.

Fastenal (NASDAQ:FASTGet Rating) last released its quarterly earnings results on Thursday, October 13th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Fastenal had a net margin of 15.73% and a return on equity of 34.25%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. Fastenal’s revenue was up 16.0% on a year-over-year basis. As a group, equities analysts anticipate that Fastenal will post 1.88 EPS for the current year.

Fastenal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Thursday, October 27th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Wednesday, October 26th. Fastenal’s dividend payout ratio (DPR) is presently 66.31%.

Insiders Place Their Bets

In other Fastenal news, Director Stephen L. Eastman acquired 1,000 shares of the business’s stock in a transaction on Friday, October 14th. The shares were acquired at an average price of $43.88 per share, for a total transaction of $43,880.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $438,800. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Daniel L. Florness purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average price of $48.00 per share, for a total transaction of $192,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 281,929 shares in the company, valued at approximately $13,532,592. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen L. Eastman purchased 1,000 shares of the business’s stock in a transaction dated Friday, October 14th. The shares were purchased at an average price of $43.88 per share, for a total transaction of $43,880.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $438,800. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,500 shares of company stock worth $306,425. 0.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fastenal

A number of institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC lifted its position in Fastenal by 7.6% during the first quarter. Penserra Capital Management LLC now owns 2,767 shares of the company’s stock valued at $164,000 after purchasing an additional 196 shares during the period. Haverford Trust Co lifted its position in Fastenal by 2.2% during the third quarter. Haverford Trust Co now owns 9,087 shares of the company’s stock valued at $418,000 after purchasing an additional 199 shares during the period. TCM Advisors LLC lifted its position in Fastenal by 0.8% during the second quarter. TCM Advisors LLC now owns 25,200 shares of the company’s stock valued at $1,258,000 after purchasing an additional 200 shares during the period. Sittner & Nelson LLC lifted its position in Fastenal by 0.6% during the first quarter. Sittner & Nelson LLC now owns 35,667 shares of the company’s stock valued at $2,119,000 after purchasing an additional 209 shares during the period. Finally, ICW Investment Advisors LLC lifted its position in Fastenal by 0.7% during the third quarter. ICW Investment Advisors LLC now owns 32,115 shares of the company’s stock valued at $1,479,000 after purchasing an additional 209 shares during the period. Hedge funds and other institutional investors own 78.18% of the company’s stock.

Fastenal Company Profile

(Get Rating)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

Featured Articles

Analyst Recommendations for Fastenal (NASDAQ:FAST)

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