Fastenal (NASDAQ:FAST) Earns Hold Rating from Analysts at HSBC

Investment analysts at HSBC began coverage on shares of Fastenal (NASDAQ:FAST) in a note issued to investors on Friday, FlyOnTheWall reports. The brokerage set a “hold” rating on the stock.

Several other equities research analysts also recently issued reports on FAST. Jefferies Financial Group increased their price objective on Fastenal from $50.00 to $60.00 in a research note on Friday, June 16th. Stephens downgraded Fastenal from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a research note on Thursday, July 13th. They noted that the move was a valuation call. Robert W. Baird increased their price objective on Fastenal from $57.00 to $60.00 in a research note on Friday, July 14th. Finally, StockNews.com initiated coverage on Fastenal in a research note on Thursday, August 17th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.67.

Fastenal Trading Up 0.2 %

Shares of NASDAQ FAST opened at $54.82 on Friday. Fastenal has a 12 month low of $43.73 and a 12 month high of $59.43. The company has a market cap of $31.32 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 3.06 and a beta of 1.16. The company has a quick ratio of 2.13, a current ratio of 4.26 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $57.16 and a 200-day simple moving average of $55.26.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Thursday, July 13th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fastenal had a return on equity of 34.63% and a net margin of 15.52%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. Sell-side analysts predict that Fastenal will post 1.98 EPS for the current year.

Insider Transactions at Fastenal

In other news, Director Reyne K. Wisecup sold 19,564 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $56.78, for a total transaction of $1,110,843.92. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,135,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Reyne K. Wisecup sold 19,564 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $56.78, for a total transaction of $1,110,843.92. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,135,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Ancius acquired 500 shares of the stock in a transaction dated Monday, July 17th. The shares were bought at an average cost of $57.53 per share, for a total transaction of $28,765.00. Following the acquisition, the director now owns 28,765 shares in the company, valued at approximately $1,654,850.45. The disclosure for this purchase can be found here. Company insiders own 0.45% of the company’s stock.

Institutional Trading of Fastenal

A number of hedge funds have recently modified their holdings of FAST. Roundview Capital LLC lifted its position in shares of Fastenal by 0.6% in the 1st quarter. Roundview Capital LLC now owns 85,339 shares of the company’s stock worth $5,069,000 after acquiring an additional 479 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Fastenal by 55.3% in the 1st quarter. Vontobel Holding Ltd. now owns 19,099 shares of the company’s stock worth $1,140,000 after acquiring an additional 6,797 shares during the period. Sei Investments Co. lifted its position in shares of Fastenal by 18.1% in the 1st quarter. Sei Investments Co. now owns 239,760 shares of the company’s stock worth $14,218,000 after acquiring an additional 36,709 shares during the period. Cetera Investment Advisers lifted its position in shares of Fastenal by 24.6% in the 1st quarter. Cetera Investment Advisers now owns 26,251 shares of the company’s stock worth $1,559,000 after acquiring an additional 5,190 shares during the period. Finally, Moors & Cabot Inc. lifted its position in shares of Fastenal by 9.0% in the 1st quarter. Moors & Cabot Inc. now owns 9,534 shares of the company’s stock worth $566,000 after acquiring an additional 786 shares during the period. Institutional investors own 78.47% of the company’s stock.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.