Fastenal Co. (NASDAQ:FAST)‘s stock had its “neutral” rating restated by Robert W. Baird in a report issued on Thursday. They presently have a $45.00 target price on the stock. Robert W. Baird’s price objective suggests a potential upside of 17.37% from the stock’s current price.
FAST has been the topic of a number of other research reports. Zacks Investment Research raised Fastenal from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Morgan Stanley began coverage on Fastenal in a research note on Thursday, July 7th. They issued an “equal weight” rating and a $46.00 price objective on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.00 price objective on shares of Fastenal in a research note on Wednesday, July 13th. Macquarie began coverage on Fastenal in a research note on Thursday, August 25th. They issued a “neutral” rating and a $50.00 price objective on the stock. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Fastenal in a research note on Sunday, September 4th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $47.15.
Shares of Fastenal (NASDAQ:FAST) traded down 1.84% on Thursday, hitting $38.34. The stock had a trading volume of 4,829,488 shares. The firm has a 50-day moving average price of $41.44 and a 200-day moving average price of $44.06. The stock has a market capitalization of $11.08 billion, a P/E ratio of 21.91 and a beta of 0.99. Fastenal has a 52 week low of $35.10 and a 52 week high of $49.99.
Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The firm earned $1.01 billion during the quarter. During the same quarter last year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts expect that Fastenal will post $1.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, October 21st. Fastenal’s payout ratio is currently 69.77%.
Hedge funds have recently made changes to their positions in the stock. Nicholas Investment Partners LP acquired a new stake in Fastenal during the first quarter worth $2,870,000. Cleararc Capital Inc. boosted its stake in Fastenal by 2.1% in the first quarter. Cleararc Capital Inc. now owns 7,241 shares of the company’s stock worth $355,000 after buying an additional 152 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Fastenal by 12.1% in the first quarter. Riverhead Capital Management LLC now owns 213,330 shares of the company’s stock worth $10,454,000 after buying an additional 23,105 shares in the last quarter. AXA boosted its stake in Fastenal by 12.0% in the first quarter. AXA now owns 109,100 shares of the company’s stock worth $5,346,000 after buying an additional 11,700 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in Fastenal by 2.1% in the first quarter. Pictet Asset Management Ltd. now owns 149,030 shares of the company’s stock worth $6,750,000 after buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 82.12% of the company’s stock.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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