Fastenal (NASDAQ:FAST) has been assigned a $50.00 target price by research analysts at Wells Fargo & Co in a research note issued on Thursday. The firm presently has a “hold” rating on the stock. Wells Fargo & Co’s target price would suggest a potential downside of 3.98% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets decreased their price target on shares of Fastenal from $57.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, July 6th. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Tuesday, July 3rd. Wolfe Research began coverage on shares of Fastenal in a research note on Wednesday, June 27th. They set an “underperform” rating on the stock. BidaskClub cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Stifel Nicolaus raised their price target on shares of Fastenal from $53.00 to $56.00 and gave the stock a “hold” rating in a research note on Friday, July 13th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $57.11.
Shares of NASDAQ FAST opened at $52.07 on Thursday. The stock has a market capitalization of $16.65 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92. Fastenal has a 52 week low of $45.96 and a 52 week high of $61.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.57 and a current ratio of 5.62.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Wednesday, October 10th. The company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. As a group, equities research analysts expect that Fastenal will post 2.56 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in FAST. Franklin Resources Inc. lifted its holdings in shares of Fastenal by 10.9% during the 1st quarter. Franklin Resources Inc. now owns 77,496 shares of the company’s stock worth $4,231,000 after acquiring an additional 7,618 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Fastenal by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,039,254 shares of the company’s stock worth $56,733,000 after acquiring an additional 28,804 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Fastenal by 95.5% during the 1st quarter. Russell Investments Group Ltd. now owns 189,761 shares of the company’s stock worth $10,325,000 after acquiring an additional 92,704 shares during the period. Sei Investments Co. lifted its holdings in shares of Fastenal by 12.7% during the 1st quarter. Sei Investments Co. now owns 82,905 shares of the company’s stock worth $4,526,000 after acquiring an additional 9,369 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Fastenal by 12.2% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 12,882 shares of the company’s stock worth $703,000 after acquiring an additional 1,400 shares during the period. 85.85% of the stock is currently owned by institutional investors.
Fastenal Company Profile
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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