Fastenal (NASDAQ:FAST) Receives $67.67 Consensus Target Price from Analysts

Fastenal (NASDAQ:FAST) has received an average recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $67.67.

A number of analysts have commented on the company. Robert W. Baird reduced their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday. Loop Capital reduced their price target on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday. Finally, Stifel Nicolaus upped their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th.

Fastenal Stock Down 0.5 %

Fastenal stock opened at $68.48 on Monday. The stock has a market cap of $39.19 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 3.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.49 and a current ratio of 4.83. Fastenal has a one year low of $52.28 and a one year high of $79.04. The stock has a fifty day moving average of $73.70 and a 200 day moving average of $66.20.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. As a group, sell-side analysts predict that Fastenal will post 2.13 EPS for the current year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, April 25th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, April 24th. Fastenal’s dividend payout ratio (DPR) is 77.23%.

Insider Transactions at Fastenal

In related news, VP Charles S. Miller sold 23,590 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $69.25, for a total transaction of $1,633,607.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Reyne K. Wisecup sold 34,042 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $68.48, for a total transaction of $2,331,196.16. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,369,600. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Charles S. Miller sold 23,590 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $69.25, for a total value of $1,633,607.50. The disclosure for this sale can be found here. Insiders sold a total of 105,682 shares of company stock valued at $7,375,853 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fastenal

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP increased its holdings in Fastenal by 62.3% during the 4th quarter. Quarry LP now owns 409 shares of the company’s stock worth $26,000 after purchasing an additional 157 shares during the period. Hartford Financial Management Inc. increased its holdings in Fastenal by 46.9% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the period. MCF Advisors LLC increased its holdings in Fastenal by 2,172.2% during the 1st quarter. MCF Advisors LLC now owns 409 shares of the company’s stock worth $32,000 after purchasing an additional 391 shares during the period. Resurgent Financial Advisors LLC purchased a new position in Fastenal during the 4th quarter worth $33,000. Finally, Sunbelt Securities Inc. increased its holdings in Fastenal by 131.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 341 shares during the period. 81.38% of the stock is currently owned by hedge funds and other 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, 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.