BidaskClub lowered shares of Fastenal (NASDAQ:FAST) from a buy rating to a hold rating in a research note released on Tuesday morning.
Several other equities analysts also recently weighed in on FAST. Zacks Investment Research raised shares of Fastenal from a hold rating to a buy rating and set a $60.00 price target on the stock in a research note on Tuesday, April 3rd. KeyCorp reissued a buy rating on shares of Fastenal in a research note on Friday, April 13th. BMO Capital Markets reissued a hold rating and issued a $57.00 price target on shares of Fastenal in a research note on Monday, April 9th. Robert W. Baird reissued a buy rating and issued a $57.00 price target on shares of Fastenal in a research note on Tuesday, March 6th. Finally, Northcoast Research set a $60.00 price target on shares of Fastenal and gave the stock a buy rating in a research note on Friday, March 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $54.67.
Fastenal opened at $49.42 on Tuesday, Marketbeat reports. The company has a current ratio of 5.11, a quick ratio of 2.30 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $14.34 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 1.42 and a beta of 1.01. Fastenal has a twelve month low of $39.79 and a twelve month high of $58.74.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, April 11th. The company reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. research analysts anticipate that Fastenal will post 2.51 earnings per share for the current year.
In related news, insider James C. Jansen sold 29,758 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $52.51, for a total transaction of $1,562,592.58. Following the completion of the sale, the insider now directly owns 22,588 shares in the company, valued at $1,186,095.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen L. Eastman purchased 700 shares of the company’s stock in a transaction on Friday, April 27th. The shares were bought at an average price of $50.31 per share, with a total value of $35,217.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 4,155 shares of company stock valued at $211,378. 0.56% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new stake in shares of Fastenal during the fourth quarter valued at about $104,000. Signaturefd LLC acquired a new stake in shares of Fastenal during the first quarter valued at about $117,000. Institutional & Family Asset Management LLC acquired a new stake in shares of Fastenal during the first quarter valued at about $122,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Fastenal by 87.8% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,500 shares of the company’s stock valued at $135,000 after acquiring an additional 1,169 shares during the last quarter. Finally, Lucia Wealth Services LLC acquired a new stake in shares of Fastenal during the first quarter valued at about $143,000. Institutional investors and hedge funds own 85.57% 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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