Fastenal (NASDAQ:FAST) PT Lowered to $66.00

Fastenal (NASDAQ:FAST) had its price objective decreased by equities researchers at Loop Capital from $71.00 to $66.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price target indicates a potential downside of 4.06% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Robert W. Baird reduced their target price on shares of Fastenal from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, HSBC raised their target price on shares of Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Fastenal currently has a consensus rating of “Hold” and an average price target of $67.67.

Fastenal Trading Down 0.9 %

NASDAQ FAST opened at $68.79 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The firm’s fifty day moving average price is $73.72 and its 200 day moving average price is $66.18. The company has a market capitalization of $39.36 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 3.64 and a beta of 1.05. Fastenal has a 12 month low of $52.28 and a 12 month high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that Fastenal will post 2.15 earnings per share for the current fiscal year.

Insider Activity at Fastenal

In related news, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Anthony Paul Broersma sold 5,586 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $69.34, for a total value of $387,333.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles S. Miller sold 23,590 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $69.25, for a total transaction of $1,633,607.50. The disclosure for this sale can be found here. Insiders sold 105,682 shares of company stock worth $7,375,853 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fastenal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Fastenal by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 70,336,580 shares of the company’s stock worth $4,555,700,000 after acquiring an additional 710,884 shares during the last quarter. BlackRock Inc. raised its position in Fastenal by 0.3% during the first quarter. BlackRock Inc. now owns 45,154,559 shares of the company’s stock worth $2,435,637,000 after acquiring an additional 138,257 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Fastenal by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company’s stock worth $751,780,000 after acquiring an additional 423,112 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Fastenal by 0.9% during the first quarter. Geode Capital Management LLC now owns 13,676,410 shares of the company’s stock worth $736,259,000 after buying an additional 117,040 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Fastenal by 37.8% during the fourth quarter. Morgan Stanley now owns 9,092,207 shares of the company’s stock worth $430,243,000 after buying an additional 2,492,722 shares in the last quarter. Institutional investors and hedge funds own 81.38% 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, 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.