Fastenal (NASDAQ:FAST) Price Target Raised to $52.00 at Robert W. Baird

Fastenal (NASDAQ:FAST) had its price objective increased by stock analysts at Robert W. Baird from $51.00 to $52.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 9.94% from the company’s previous close.

Several other research analysts also recently commented on FAST. Benchmark reissued a “buy” rating on shares of Fastenal in a research note on Thursday. Jefferies Financial Group set a $52.00 price objective on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, December 15th. Morgan Stanley reissued a “positive” rating and issued a $45.00 price objective on shares of Fastenal in a research note on Thursday. UBS Group reaffirmed a “neutral” rating and set a $46.00 target price on shares of Fastenal in a research note on Wednesday, January 21st. Finally, Barclays set a $43.00 price target on Fastenal and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.75.

Fastenal Stock Up 1.9%

NASDAQ FAST opened at $47.30 on Friday. The business has a fifty day moving average price of $44.26 and a two-hundred day moving average price of $44.33. The stock has a market capitalization of $54.32 billion, a PE ratio of 43.00, a PEG ratio of 2.96 and a beta of 0.88. Fastenal has a fifty-two week low of $35.31 and a fifty-two week high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41.

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

Insiders Place Their Bets

In related news, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $2,209,500. This trade represents a 24.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Fastenal

A number of institutional investors have recently made changes to their positions in FAST. Elyxium Wealth LLC acquired a new position in shares of Fastenal in the fourth quarter worth approximately $25,000. Palladiem LLC bought a new position in Fastenal during the 4th quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal in the 2nd quarter worth approximately $27,000. MV Capital Management Inc. acquired a new position in shares of Fastenal in the 4th quarter worth approximately $29,000. Finally, NewSquare Capital LLC boosted its stake in shares of Fastenal by 197.5% in the 2nd quarter. NewSquare Capital LLC now owns 714 shares of the company’s stock valued at $30,000 after purchasing an additional 474 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

About Fastenal

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.