Fastenal’s (FAST) Buy Rating Reiterated at Stifel Nicolaus

Fastenal (NASDAQ:FAST)‘s stock had its “buy” rating restated by analysts at Stifel Nicolaus in a note issued to investors on Monday, Benzinga reports. They presently have a $80.00 price target on the stock, down from their prior price target of $85.00. Stifel Nicolaus’ target price would suggest a potential upside of 15.89% from the company’s previous close.

FAST has been the subject of a number of other reports. Robert W. Baird reduced their price objective on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Jefferies Financial Group reduced their price objective on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. HSBC raised their price objective on shares of Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Finally, Loop Capital reduced their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $66.67.

Fastenal Stock Up 1.8 %

NASDAQ:FAST opened at $69.03 on Monday. The firm has a market cap of $39.52 billion, a P/E ratio of 34.34, a P/E/G ratio of 3.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a fifty-two week low of $53.83 and a fifty-two week high of $79.04. The firm has a 50-day simple moving average of $64.95 and a two-hundred day simple moving average of $68.59.

Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Friday, July 12th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.74%. Fastenal’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. Analysts predict that Fastenal will post 2.06 earnings per share for the current fiscal year.

Insider Transactions at Fastenal

In related news, Director Hsenghung Sam Hsu purchased 500 shares of Fastenal stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $221,480. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP James C. Jansen sold 11,428 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $64.07, for a total value of $732,191.96. Following the transaction, the executive vice president now owns 26,176 shares of the company’s stock, valued at $1,677,096.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hsenghung Sam Hsu acquired 500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the acquisition, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fastenal

Institutional investors and hedge funds have recently made changes to their positions in the business. Central Valley Advisors LLC purchased a new position in Fastenal during the second quarter valued at approximately $28,000. Hartford Financial Management Inc. lifted its holdings in Fastenal by 46.9% during the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after purchasing an additional 153 shares in the last quarter. MCF Advisors LLC lifted its holdings in Fastenal by 2,172.2% during the first quarter. MCF Advisors LLC now owns 409 shares of the company’s stock valued at $32,000 after purchasing an additional 391 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Fastenal during the fourth quarter valued at approximately $35,000. Finally, LRI Investments LLC purchased a new position in Fastenal during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Fastenal Company Profile

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 that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.