Fastenal (NASDAQ:FAST – Get Free Report) was upgraded by equities researchers at Rothschild & Co Redburn to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.
Several other brokerages have also recently weighed in on FAST. Wolfe Research reissued an “underperform” rating and issued a $47.00 price target on shares of Fastenal in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fastenal in a research note on Wednesday, July 8th. Morgan Stanley set a $48.00 target price on Fastenal and gave the company an “equal weight” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, DA Davidson began coverage on shares of Fastenal in a report on Tuesday, June 16th. They set a “neutral” rating and a $46.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.31.
Read Our Latest Analysis on FAST
Fastenal Price Performance
Fastenal (NASDAQ:FAST – Get Free Report) last announced its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.Fastenal’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. Sell-side analysts predict that Fastenal will post 1.24 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of FAST. Evergreen Advisors LLC bought a new stake in Fastenal in the first quarter valued at $26,000. Palladiem LLC bought a new position in shares of Fastenal during the 4th quarter worth about $25,000. Elyxium Wealth LLC bought a new position in shares of Fastenal during the 4th quarter worth about $25,000. MV Capital Management Inc. acquired a new stake in shares of Fastenal in the 4th quarter valued at about $29,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Fastenal in the 3rd quarter valued at about $36,000. 81.38% of the stock is owned by institutional investors.
Fastenal Company Profile
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.
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