Fastenal (NASDAQ:FAST) has been given a $31.00 price target by Buckingham Research in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the stock. Buckingham Research’s price objective suggests a potential downside of 0.94% from the stock’s current price.
A number of other brokerages have also weighed in on FAST. BidaskClub raised Fastenal from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 23rd. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Northcoast Research lowered Fastenal from a “buy” rating to a “neutral” rating in a report on Monday, April 15th. They noted that the move was a valuation call. William Blair lowered Fastenal from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. Finally, Raymond James set a $39.00 target price on Fastenal and gave the stock a “buy” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.70.
Shares of NASDAQ:FAST traded down $1.43 during trading on Friday, reaching $31.30. The company had a trading volume of 1,731,608 shares, compared to its average volume of 4,044,099. The firm has a market cap of $18.73 billion, a P/E ratio of 23.71, a PEG ratio of 1.42 and a beta of 1.27. The company has a current ratio of 4.31, a quick ratio of 1.97 and a debt-to-equity ratio of 0.20. Fastenal has a fifty-two week low of $23.68 and a fifty-two week high of $35.94.
Fastenal (NASDAQ:FAST) last released its earnings results on Thursday, April 11th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. Research analysts forecast that Fastenal will post 1.42 EPS for the current fiscal year.
In other news, CAO Sheryl Ann Lisowski sold 9,166 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $64.22, for a total value of $588,640.52. Following the sale, the chief accounting officer now directly owns 9,466 shares in the company, valued at $607,906.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Willard D. Oberton sold 25,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $70.85, for a total value of $1,771,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,470 shares of company stock worth $11,485,007. 0.56% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc lifted its position in shares of Fastenal by 1.0% in the third quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after acquiring an additional 311,099 shares in the last quarter. BlackRock Inc. lifted its position in shares of Fastenal by 1.8% in the first quarter. BlackRock Inc. now owns 20,274,336 shares of the company’s stock valued at $1,303,845,000 after acquiring an additional 354,493 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Fastenal by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 15,859,900 shares of the company’s stock valued at $829,314,000 after acquiring an additional 1,134,666 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Fastenal by 14.3% in the first quarter. Geode Capital Management LLC now owns 4,761,282 shares of the company’s stock valued at $305,748,000 after acquiring an additional 595,707 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Fastenal by 1.8% in the first quarter. Northern Trust Corp now owns 3,726,840 shares of the company’s stock valued at $239,673,000 after acquiring an additional 65,952 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.
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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