Fastenal (NASDAQ:FAST) Given Consensus Rating of “Hold” by Brokerages

Fastenal (NASDAQ:FAST) has received an average rating of “Hold” from the ten brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $77.40.

FAST has been the topic of a number of research analyst reports. Stifel Nicolaus lowered shares of Fastenal from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a report on Wednesday, December 11th. Bank of America began coverage on Fastenal in a report on Monday, October 7th. They issued a “buy” rating and a $85.00 price objective on the stock. UBS Group initiated coverage on Fastenal in a report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 target price for the company. Robert W. Baird increased their price target on shares of Fastenal from $67.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Jefferies Financial Group lifted their price objective on shares of Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, December 6th.

Fastenal Stock Up 1.2 %

NASDAQ:FAST opened at $73.74 on Wednesday. The company’s 50 day moving average is $78.41 and its two-hundred day moving average is $72.81. The company has a market cap of $42.24 billion, a PE ratio of 36.69, a P/E/G ratio of 4.64 and a beta of 1.02. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03.

Insider Activity at Fastenal

In other news, VP Charles S. Miller sold 23,480 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.92, for a total value of $1,970,441.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. This trade represents a 10.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock worth $6,211,126 in the last three months. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fastenal

A number of large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal in the third quarter valued at about $25,000. Knuff & Co LLC acquired a new stake in Fastenal in the 3rd quarter worth about $27,000. Moisand Fitzgerald Tamayo LLC increased its stake in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after buying an additional 428 shares in the last quarter. First Personal Financial Services acquired a new position in shares of Fastenal during the third quarter valued at approximately $36,000. Finally, CVA Family Office LLC lifted its position in shares of Fastenal by 51.0% in the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after acquiring an additional 180 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

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.