Fastenal (NASDAQ:FAST) Given Average Rating of “Hold” by Analysts

Fastenal (NASDAQ:FASTGet Rating) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $51.86.

FAST has been the topic of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $50.00 price target on shares of Fastenal in a research note on Monday, October 17th. StockNews.com cut shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Saturday, October 15th. Finally, Morgan Stanley increased their price objective on shares of Fastenal from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Friday, October 14th.

Insider Transactions at Fastenal

In other Fastenal news, CEO Daniel L. Florness purchased 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average price of $48.00 per share, for a total transaction of $192,000.00. Following the completion of the acquisition, the chief executive officer now owns 281,929 shares of the company’s stock, valued at approximately $13,532,592. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fastenal news, Director Stephen L. Eastman purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 14th. The shares were purchased at an average price of $43.88 per share, for a total transaction of $43,880.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $438,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel L. Florness acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average price of $48.00 per share, for a total transaction of $192,000.00. Following the purchase, the chief executive officer now directly owns 281,929 shares of the company’s stock, valued at $13,532,592. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,500 shares of company stock worth $306,425 in the last three months. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Fastenal

Hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its stake in Fastenal by 78.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 511 shares of the company’s stock valued at $26,000 after acquiring an additional 224 shares in the last quarter. Old North State Trust LLC bought a new stake in Fastenal in the third quarter valued at $31,000. O Dell Group LLC bought a new stake in shares of Fastenal during the first quarter worth $32,000. Guardian Wealth Advisors LLC bought a new stake in shares of Fastenal during the third quarter worth $42,000. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Fastenal by 53.0% during the second quarter. TCI Wealth Advisors Inc. now owns 956 shares of the company’s stock valued at $48,000 after acquiring an additional 331 shares during the period. 78.18% of the stock is currently owned by institutional investors.

Fastenal Stock Up 0.8 %

Shares of Fastenal stock opened at $52.05 on Tuesday. The company has a market cap of $29.81 billion, a P/E ratio of 27.83, a PEG ratio of 3.06 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.89 and a current ratio of 3.98. Fastenal has a one year low of $43.73 and a one year high of $64.75. The firm has a fifty day moving average of $48.05 and a two-hundred day moving average of $50.27.

Fastenal (NASDAQ:FASTGet Rating) last announced its quarterly earnings data on Thursday, October 13th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.78 billion. Fastenal had a net margin of 15.73% and a return on equity of 34.25%. Fastenal’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, analysts forecast that Fastenal will post 1.88 earnings per share for the current year.

Fastenal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Thursday, October 27th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 26th. This represents a $1.24 annualized dividend and a dividend yield of 2.38%. Fastenal’s payout ratio is currently 66.31%.

Fastenal Company Profile

(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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