Fastenal (NASDAQ:FAST) has been assigned a consensus recommendation of “Buy” from the sixteen analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $53.25.
A number of research analysts have recently issued reports on FAST shares. Robert W. Baird reiterated a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. Stephens set a $54.00 target price on Fastenal and gave the company a “buy” rating in a research report on Wednesday, October 11th. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 target price (up previously from $44.00) on shares of Fastenal in a research report on Monday, October 2nd. Credit Suisse Group upgraded Fastenal to a “buy” rating and set a $61.00 target price on the stock in a research report on Thursday, January 18th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $57.00 target price on shares of Fastenal in a research report on Tuesday, January 9th.
In other Fastenal news, VP Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $48.00, for a total value of $480,000.00. Following the transaction, the vice president now owns 20,258 shares in the company, valued at approximately $972,384. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terry Modock Owen sold 30,000 shares of Fastenal stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total value of $1,440,600.00. The disclosure for this sale can be found here. Insiders sold a total of 88,996 shares of company stock worth $4,544,944 in the last 90 days. 0.55% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Korea Investment CORP raised its holdings in shares of Fastenal by 62.5% during the 3rd quarter. Korea Investment CORP now owns 76,983 shares of the company’s stock worth $3,509,000 after acquiring an additional 29,600 shares during the period. Beacon Investment Advisory Services Inc. purchased a new position in shares of Fastenal during the 3rd quarter worth $303,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Fastenal by 39.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 133,651 shares of the company’s stock worth $6,092,000 after acquiring an additional 37,895 shares during the period. Royal Bank of Canada raised its holdings in shares of Fastenal by 4.6% during the 2nd quarter. Royal Bank of Canada now owns 1,325,844 shares of the company’s stock worth $57,714,000 after acquiring an additional 58,377 shares during the period. Finally, Grandeur Peak Global Advisors LLC raised its holdings in shares of Fastenal by 106.3% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 219,350 shares of the company’s stock worth $9,548,000 after acquiring an additional 113,025 shares during the period. Institutional investors and hedge funds own 84.64% of the company’s stock.
Shares of Fastenal (NASDAQ:FAST) traded down $0.64 during trading hours on Tuesday, hitting $55.83. The stock had a trading volume of 2,742,376 shares, compared to its average volume of 3,235,259. Fastenal has a 52-week low of $39.79 and a 52-week high of $57.81. The stock has a market cap of $16,591.16, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a quick ratio of 2.40, a current ratio of 5.51 and a debt-to-equity ratio of 0.20.
Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, January 17th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. Fastenal had a return on equity of 27.39% and a net margin of 13.18%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue was up 14.8% on a year-over-year basis. analysts forecast that Fastenal will post 2.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, January 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.65%. This is a positive change from Fastenal’s previous quarterly dividend of $0.32. Fastenal’s dividend payout ratio (DPR) is presently 63.68%.
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Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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