Fastenal (NASDAQ:FAST) PT Lowered to $69.00 at Robert W. Baird

Fastenal (NASDAQ:FAST) had its price objective decreased by equities research analysts at Robert W. Baird from $71.00 to $69.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 3.32% from the stock’s previous close.

Several other analysts also recently commented on FAST. Loop Capital reduced their target price on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research note on Monday, April 15th. HSBC upped their target price on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Finally, Stifel Nicolaus raised their price objective on shares of Fastenal from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.33.

Fastenal Price Performance

FAST stock opened at $66.78 on Tuesday. The company has a quick ratio of 2.49, a current ratio of 4.83 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $72.87 and its 200 day simple moving average is $67.29. Fastenal has a 12-month low of $52.86 and a 12-month high of $79.04. The firm has a market cap of $38.23 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 3.58 and a beta of 1.07.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results 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). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. Fastenal’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. On average, analysts expect that Fastenal will post 2.12 earnings per share for the current year.

Insider Buying and Selling at Fastenal

In related news, Director Daniel L. Johnson acquired 3,350 shares of the stock in a transaction on Wednesday, April 17th. The shares were acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now owns 10,595 shares in the company, valued at approximately $724,486.10. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Charles S. Miller sold 11,076 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.16, for a total value of $832,472.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction on Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, for a total transaction of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Fastenal

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its position in shares of Fastenal by 5.7% during the fourth quarter. Van ECK Associates Corp now owns 101,713 shares of the company’s stock valued at $6,588,000 after buying an additional 5,509 shares during the period. Raymond James & Associates increased its holdings in Fastenal by 3.7% during the 4th quarter. Raymond James & Associates now owns 900,171 shares of the company’s stock worth $58,304,000 after acquiring an additional 31,814 shares during the period. ICW Investment Advisors LLC lifted its stake in Fastenal by 2.0% in the 4th quarter. ICW Investment Advisors LLC now owns 36,090 shares of the company’s stock worth $2,338,000 after purchasing an additional 694 shares in the last quarter. International Assets Investment Management LLC bought a new position in Fastenal in the 4th quarter valued at $13,204,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Fastenal by 178.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 78,030 shares of the company’s stock valued at $5,054,000 after purchasing an additional 49,972 shares in the last quarter. 81.38% of the stock is currently owned by 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.