Shares of Fastenal (NASDAQ:FAST) have earned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $78.38.
A number of research analysts have recently issued reports on FAST shares. Wolfe Research cut shares of Fastenal from a “market perform” rating to an “underperform” rating in a research note on Monday, October 14th. BidaskClub upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley lifted their target price on shares of Fastenal from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Zacks Investment Research cut shares of Fastenal from a “hold” rating to a “sell” rating and set a $38.00 target price for the company. in a research note on Monday, October 14th. Finally, Buckingham Research lifted their target price on shares of Fastenal from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th.
In related news, CAO Sheryl Ann Lisowski sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.35, for a total value of $309,312.50. Following the completion of the transaction, the chief accounting officer now owns 9,350 shares in the company, valued at approximately $330,522.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Joseph Drazkowski sold 16,666 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $36.77, for a total transaction of $612,808.82. Following the completion of the transaction, the insider now owns 19,456 shares of the company’s stock, valued at approximately $715,397.12. The disclosure for this sale can be found here. Insiders sold a total of 190,370 shares of company stock valued at $6,979,721 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new stake in Fastenal during the 2nd quarter worth $32,000. Van ECK Associates Corp grew its holdings in Fastenal by 100.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,106 shares of the company’s stock worth $36,000 after acquiring an additional 555 shares during the period. Executive Wealth Management LLC grew its holdings in Fastenal by 120.7% during the 3rd quarter. Executive Wealth Management LLC now owns 1,249 shares of the company’s stock worth $40,000 after acquiring an additional 683 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Fastenal by 97.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,400 shares of the company’s stock worth $46,000 after acquiring an additional 692 shares during the period. Finally, TD Capital Management LLC acquired a new stake in Fastenal during the 2nd quarter worth $50,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.
Shares of NASDAQ:FAST traded down $0.66 during trading on Tuesday, reaching $36.57. The stock had a trading volume of 4,101,279 shares, compared to its average volume of 2,720,587. Fastenal has a 52 week low of $25.34 and a 52 week high of $37.94. The business’s 50-day moving average price is $36.32 and its 200 day moving average price is $33.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.51 and a quick ratio of 2.06. The stock has a market capitalization of $21.35 billion, a PE ratio of 27.70, a P/E/G ratio of 1.82 and a beta of 1.25.
Fastenal (NASDAQ:FAST) last posted its earnings results on Friday, October 11th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Fastenal had a net margin of 14.77% and a return on equity of 32.03%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. Fastenal’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts forecast that Fastenal will post 1.38 EPS for the current year.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as 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.
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