Fastenal (NASDAQ:FAST) Receives $76.91 Consensus Price Target from Analysts

Fastenal (NASDAQ:FAST) has been given an average recommendation of “Reduce” by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $76.91.

Several brokerages have recently issued reports on FAST. Stifel Nicolaus reduced their price objective on Fastenal from $86.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Hsbc Global Res cut Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. UBS Group initiated coverage on Fastenal in a research report on Wednesday, November 13th. They set a “neutral” rating and a $88.00 price target for the company. Jefferies Financial Group lifted their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, Wolfe Research lifted their price target on Fastenal from $74.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th.

Fastenal Trading Up 1.5 %

Shares of NASDAQ:FAST opened at $74.79 on Friday. Fastenal has a 52-week low of $61.36 and a 52-week high of $84.88. The stock has a market cap of $42.85 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 3.55 and a beta of 1.02. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $74.92 and a 200-day moving average price of $74.04.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts predict that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a $0.43 dividend. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.30%. Fastenal’s payout ratio is 85.57%.

Institutional Trading of Fastenal

A number of institutional investors and hedge funds have recently made changes to their positions in FAST. Champlain Investment Partners LLC purchased a new stake in shares of Fastenal during the fourth quarter worth approximately $35,796,000. Farringdon Capital Ltd. acquired a new stake in Fastenal during the 4th quarter worth $287,000. Marshall Wace LLP acquired a new stake in Fastenal during the 4th quarter worth $31,514,000. United Capital Financial Advisors LLC lifted its stake in shares of Fastenal by 1.2% in the fourth quarter. United Capital Financial Advisors LLC now owns 13,578 shares of the company’s stock worth $976,000 after buying an additional 164 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its stake in shares of Fastenal by 3.4% in the fourth quarter. Anchor Investment Management LLC now owns 4,134 shares of the company’s stock worth $297,000 after buying an additional 135 shares in the last quarter. 81.38% of the stock is currently 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.