Fastenal Co. (NASDAQ:FAST) – Stock analysts at William Blair raised their Q3 2016 EPS estimates for shares of Fastenal in a research report issued to clients and investors on Friday. William Blair analyst R. Merkel now expects that the brokerage will post earnings per share of $0.45 for the quarter, up from their previous forecast of $0.44.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Tuesday, July 12th. The company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $1.01 billion for the quarter. Fastenal had a return on equity of 27.83% and a net margin of 12.91%. Fastenal’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS.
Several other research firms also recently issued reports on FAST. Vetr downgraded Fastenal from a “strong-buy” rating to a “hold” rating and set a $42.46 price target for the company. in a research note on Tuesday, September 6th. Wells Fargo & Co. reiterated a “hold” rating on shares of Fastenal in a research note on Wednesday, June 8th. Credit Suisse Group AG reiterated a “neutral” rating and set a $43.00 price target on shares of Fastenal in a research note on Friday, June 17th. Zacks Investment Research downgraded Fastenal from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 14th. Finally, Macquarie initiated coverage on Fastenal in a research note on Thursday, August 25th. They set a “neutral” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $47.44.
Fastenal (NASDAQ:FAST) opened at 40.39 on Monday. The company’s 50-day moving average price is $42.27 and its 200-day moving average price is $44.60. Fastenal has a 52 week low of $34.45 and a 52 week high of $49.99. The company has a market capitalization of $11.67 billion, a P/E ratio of 23.08 and a beta of 0.90.
Several institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. boosted its position in shares of Fastenal by 1.9% in the first quarter. Capstone Asset Management Co. now owns 48,166 shares of the company’s stock worth $2,360,000 after buying an additional 900 shares during the last quarter. Commonwealth Equity Services Inc boosted its position in shares of Fastenal by 14.6% in the first quarter. Commonwealth Equity Services Inc now owns 48,250 shares of the company’s stock worth $2,364,000 after buying an additional 6,156 shares during the last quarter. Aperio Group LLC boosted its position in shares of Fastenal by 25.2% in the first quarter. Aperio Group LLC now owns 74,469 shares of the company’s stock worth $3,649,000 after buying an additional 14,979 shares during the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in shares of Fastenal during the first quarter worth about $294,000. Finally, CIBC World Markets Inc. boosted its position in shares of Fastenal by 124.2% in the first quarter. CIBC World Markets Inc. now owns 127,289 shares of the company’s stock worth $6,237,000 after buying an additional 70,510 shares during the last quarter. 82.12% of the stock is owned by institutional investors and hedge funds.
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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