Fastenal (FAST) Receives Consensus Rating of “Hold” from Brokerages

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Fastenal (NASDAQ:FAST) has been given an average recommendation of “Hold” by the fourteen brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $55.25.

Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Fastenal from a “sell” rating to a “hold” rating in a research note on Wednesday. Buckingham Research started coverage on shares of Fastenal in a research note on Monday, October 22nd. They issued a “neutral” rating and a $50.00 price objective for the company. ValuEngine lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Wells Fargo & Co set a $50.00 price objective on shares of Fastenal and gave the company a “hold” rating in a research note on Thursday, October 11th. Finally, Zacks Investment Research lowered shares of Fastenal from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th.

In other news, insider William Joseph Drazkowski purchased 830 shares of the business’s stock in a transaction on Tuesday, October 23rd. The stock was purchased at an average cost of $50.54 per share, with a total value of $41,948.20. Following the acquisition, the insider now directly owns 2,790 shares in the company, valued at $141,006.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Terry Modock Owen purchased 1,500 shares of the business’s stock in a transaction on Friday, October 12th. The stock was purchased at an average cost of $52.07 per share, with a total value of $78,105.00. Following the completion of the acquisition, the insider now owns 3,500 shares in the company, valued at $182,245. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 5,795 shares of company stock valued at $299,849. Insiders own 0.56% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Trust Department MB Financial Bank N A bought a new stake in shares of Fastenal during the 2nd quarter worth $137,000. Delta Asset Management LLC TN lifted its holdings in shares of Fastenal by 3,540.7% during the 3rd quarter. Delta Asset Management LLC TN now owns 3,131 shares of the company’s stock worth $182,000 after acquiring an additional 3,045 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Fastenal during the 3rd quarter worth $186,000. Atria Investments LLC bought a new stake in shares of Fastenal during the 3rd quarter worth $222,000. Finally, Hengehold Capital Management LLC bought a new stake in shares of Fastenal during the 3rd quarter worth $230,000. 86.37% of the stock is owned by hedge funds and other institutional investors.

Shares of FAST stock traded up $0.39 during trading hours on Thursday, hitting $51.80. 277,507 shares of the company were exchanged, compared to its average volume of 4,195,612. The company has a quick ratio of 2.48, a current ratio of 5.35 and a debt-to-equity ratio of 0.17. Fastenal has a 52-week low of $46.40 and a 52-week high of $61.14. The firm has a market cap of $14.73 billion, a P/E ratio of 26.84, a PEG ratio of 1.42 and a beta of 0.92.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, October 10th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Fastenal had a net margin of 15.25% and a return on equity of 32.29%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business posted $0.50 EPS. Fastenal’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts expect that Fastenal will post 2.58 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, October 24th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, October 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.09%. Fastenal’s dividend payout ratio is 82.90%.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Analyst Recommendations for Fastenal (NASDAQ:FAST)

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