Fastenal (NASDAQ:FAST) had its target price hoisted by Morgan Stanley from $55.00 to $63.00 in a research note published on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the stock.
A number of other research analysts have also commented on FAST. Zacks Investment Research lowered Fastenal from a buy rating to a sell rating in a research report on Thursday, January 3rd. Jefferies Financial Group assumed coverage on Fastenal in a research report on Monday, January 7th. They set a hold rating and a $60.00 price target for the company. Wolfe Research raised Fastenal from an underperform rating to a market perform rating in a research report on Tuesday, January 8th. Buckingham Research set a $51.00 price target on Fastenal and gave the company a hold rating in a research report on Friday, January 11th. Finally, ValuEngine raised Fastenal from a hold rating to a buy rating in a research report on Thursday, January 17th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $61.70.
FAST opened at $69.52 on Tuesday. Fastenal has a 12-month low of $47.37 and a 12-month high of $69.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.31 and a quick ratio of 1.97. The stock has a market capitalization of $19.68 billion, a PE ratio of 26.43, a PEG ratio of 1.51 and a beta of 1.17.
Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Fastenal had a return on equity of 33.52% and a net margin of 15.16%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the business earned $0.61 EPS. As a group, equities research analysts expect that Fastenal will post 2.85 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, April 24th will be paid a $0.43 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $1.72 annualized dividend and a dividend yield of 2.47%. Fastenal’s payout ratio is currently 65.40%.
In related news, CAO Sheryl Ann Lisowski sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $62.50, for a total value of $625,000.00. Following the sale, the chief accounting officer now owns 10,300 shares in the company, valued at approximately $643,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael John Dolan sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the sale, the director now owns 12,500 shares in the company, valued at approximately $750,000. The disclosure for this sale can be found here. Insiders sold a total of 87,083 shares of company stock worth $5,458,662 in the last 90 days. 0.62% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of FAST. Berman Capital Advisors LLC purchased a new stake in Fastenal during the 4th quarter valued at $26,000. AdvisorNet Financial Inc boosted its stake in Fastenal by 46.9% during the 4th quarter. AdvisorNet Financial Inc now owns 564 shares of the company’s stock valued at $29,000 after purchasing an additional 180 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of Fastenal by 3,163.2% during the 4th quarter. Avestar Capital LLC now owns 620 shares of the company’s stock valued at $30,000 after buying an additional 601 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Fastenal during the 4th quarter valued at $39,000. Finally, Bremer Trust National Association bought a new position in shares of Fastenal during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 86.57% 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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