Fastenal (NASDAQ:FAST) Upgraded at StockNews.com

Fastenal (NASDAQ:FASTGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other brokerages have also recently weighed in on FAST. Robert W. Baird upped their price target on Fastenal from $64.00 to $66.00 in a research report on Monday, March 7th. Morgan Stanley upped their price target on Fastenal from $53.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on Fastenal from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average target price of $60.17.

Shares of Fastenal stock opened at $56.01 on Friday. Fastenal has a 52-week low of $48.84 and a 52-week high of $64.75. The stock’s 50-day simple moving average is $55.30 and its 200 day simple moving average is $57.48. The stock has a market capitalization of $32.24 billion, a P/E ratio of 32.75, a P/E/G ratio of 3.65 and a beta of 1.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 4.07.

Fastenal (NASDAQ:FASTGet Rating) last announced its quarterly earnings data on Wednesday, April 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Fastenal had a return on equity of 32.72% and a net margin of 15.63%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the business posted $0.37 EPS. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. Equities research analysts forecast that Fastenal will post 1.8 EPS for the current fiscal year.

In other Fastenal news, Director Michael J. Ancius acquired 730 shares of the business’s stock in a transaction dated Thursday, January 20th. The stock was bought at an average price of $57.18 per share, with a total value of $41,741.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. JFS Wealth Advisors LLC grew its holdings in shares of Fastenal by 141.0% during the third quarter. JFS Wealth Advisors LLC now owns 482 shares of the company’s stock worth $25,000 after purchasing an additional 282 shares in the last quarter. Mascoma Wealth Management LLC purchased a new stake in Fastenal in the fourth quarter worth approximately $26,000. Sonora Investment Management LLC boosted its stake in Fastenal by 136.7% in the third quarter. Sonora Investment Management LLC now owns 632 shares of the company’s stock worth $33,000 after buying an additional 365 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Fastenal in the fourth quarter worth approximately $33,000. Finally, Cornerstone Advisory LLC purchased a new stake in Fastenal in the fourth quarter worth approximately $38,000. 77.18% of the stock is owned by institutional investors.

About Fastenal (Get Rating)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, 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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Analyst Recommendations for Fastenal (NASDAQ:FAST)

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