Fastenal (NASDAQ:FAST) PT Lowered to $71.00

Fastenal (NASDAQ:FAST) had its price target dropped by Robert W. Baird from $77.00 to $71.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 0.78% from the stock’s current price.

Separately, Stifel Nicolaus upped their price objective on Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Fastenal currently has a consensus rating of “Hold” and a consensus target price of $67.00.

Fastenal Price Performance

Fastenal stock opened at $70.45 on Friday. Fastenal has a 12 month low of $50.30 and a 12 month high of $79.04. The company has a current ratio of 4.83, a quick ratio of 2.27 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $73.74 and its 200 day simple moving average is $65.91. The company has a market cap of $40.31 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 3.61 and a beta of 1.05.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company posted $0.52 EPS. Fastenal’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts forecast that Fastenal will post 2.15 EPS for the current year.

Insiders Place Their Bets

In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Fastenal news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Anthony Paul Broersma sold 5,586 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $69.34, for a total value of $387,333.24. The disclosure for this sale can be found here. Insiders have sold a total of 105,682 shares of company stock worth $7,375,853 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fastenal

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates raised its position in shares of Fastenal by 3.7% in the fourth quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after buying an additional 31,814 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Fastenal by 178.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock worth $5,054,000 after buying an additional 49,972 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Fastenal in the third quarter valued at $1,293,000. National Bank of Canada FI increased its stake in Fastenal by 26.8% in the third quarter. National Bank of Canada FI now owns 262,544 shares of the company’s stock valued at $14,401,000 after acquiring an additional 55,491 shares during the last quarter. Finally, Kampmann Melissa S. bought a new position in Fastenal in the third quarter valued at $2,777,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

About Fastenal

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 that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.