Fastenal (NASDAQ:FAST) Earns Buy Rating from Stifel Nicolaus

Fastenal (NASDAQ:FAST)‘s stock had its “buy” rating reaffirmed by analysts at Stifel Nicolaus in a report issued on Monday, Benzinga reports. They presently have a $80.00 price target on the stock, down from their previous price target of $85.00. Stifel Nicolaus’ target price points to a potential upside of 20.25% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Loop Capital decreased their price target on shares of Fastenal from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Jefferies Financial Group decreased their price target on shares of Fastenal from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday. HSBC boosted their target price on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Finally, Robert W. Baird cut their price target on shares of Fastenal from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $66.67.

Fastenal Price Performance

Shares of FAST traded up $1.09 during trading hours on Monday, reaching $66.53. 655,327 shares of the stock traded hands, compared to its average volume of 3,713,370. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a 52-week low of $53.83 and a 52-week high of $79.04. The company’s 50-day moving average price is $64.87 and its two-hundred day moving average price is $68.53. The company has a market cap of $38.09 billion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 3.53 and a beta of 1.01.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, July 12th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Fastenal had a net margin of 15.54% and a return on equity of 33.74%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. On average, analysts anticipate that Fastenal will post 2.06 earnings per share for the current year.

Insider Buying and Selling at Fastenal

In other Fastenal news, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $68.38 per share, for a total transaction of $229,073.00. Following the completion of the purchase, the director now directly owns 10,595 shares of the company’s stock, valued at $724,486.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Daniel L. Johnson acquired 3,350 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the completion of the acquisition, the director now directly owns 10,595 shares in the company, valued at approximately $724,486.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hsenghung Sam Hsu purchased 500 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was acquired at an average cost of $63.28 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the director now owns 3,500 shares of the company’s stock, valued at approximately $221,480. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fastenal

A number of institutional investors have recently bought and sold shares of FAST. American Century Companies Inc. raised its stake in Fastenal by 24.0% during the third quarter. American Century Companies Inc. now owns 382,378 shares of the company’s stock worth $20,893,000 after purchasing an additional 74,072 shares during the period. Central Bank & Trust Co. increased its position in shares of Fastenal by 72.9% during the fourth quarter. Central Bank & Trust Co. now owns 1,599 shares of the company’s stock valued at $104,000 after acquiring an additional 674 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of Fastenal during the fourth quarter valued at about $219,000. Nordea Investment Management AB increased its position in shares of Fastenal by 0.4% during the fourth quarter. Nordea Investment Management AB now owns 1,280,071 shares of the company’s stock valued at $82,949,000 after acquiring an additional 4,673 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Fastenal by 281.2% during the fourth quarter. Sound Income Strategies LLC now owns 2,169 shares of the company’s stock valued at $140,000 after acquiring an additional 1,600 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

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.