Robert W. Baird reissued their neutral rating on shares of Fastenal Co. (NASDAQ:FAST) in a research report released on Thursday morning. They currently have a $45.00 price objective on the stock.
Several other brokerages have also recently issued reports on FAST. Zacks Investment Research upgraded shares of Fastenal from a sell rating to a hold rating in a research report on Tuesday, September 13th. Morgan Stanley began coverage on shares of Fastenal in a research report on Thursday, July 7th. They set an equal weight rating and a $46.00 target price on the stock. BMO Capital Markets restated a market perform rating and set a $47.00 target price on shares of Fastenal in a research report on Wednesday, July 13th. Macquarie began coverage on shares of Fastenal in a research report on Thursday, August 25th. They set a neutral rating and a $50.00 target price on the stock. Finally, Wells Fargo & Co. restated a hold rating on shares of Fastenal in a research report on Sunday, September 4th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the stock. Fastenal has an average rating of Hold and an average target price of $47.15.
Fastenal (NASDAQ:FAST) traded up 0.0527% during mid-day trading on Thursday, reaching $38.3602. The company’s stock had a trading volume of 1,629,495 shares. The stock has a market cap of $11.08 billion, a P/E ratio of 21.9201 and a beta of 0.99. The firm’s 50 day moving average is $41.44 and its 200-day moving average is $44.06. Fastenal has a one year low of $35.10 and a one year high of $49.99.
Fastenal (NASDAQ:FAST) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by $0.01. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. The company had revenue of $1.01 billion for the quarter. During the same period in the previous year, the business earned $0.47 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. Equities analysts expect that Fastenal will post $1.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, October 25th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, October 21st. Fastenal’s dividend payout ratio (DPR) is presently 69.77%.
Several institutional investors have recently modified their holdings of FAST. Cantab Capital Partners LLP acquired a new position in Fastenal during the second quarter worth about $119,000. American Research & Management Co. increased its position in Fastenal by 191.5% in the second quarter. American Research & Management Co. now owns 2,740 shares of the company’s stock worth $122,000 after buying an additional 1,800 shares in the last quarter. Washington Trust Bank increased its position in Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock worth $123,000 after buying an additional 62 shares in the last quarter. Van ECK Associates Corp increased its position in Fastenal by 32.0% in the second quarter. Van ECK Associates Corp now owns 3,131 shares of the company’s stock worth $139,000 after buying an additional 759 shares in the last quarter. Finally, FineMark National Bank & Trust increased its position in Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock worth $152,000 after buying an additional 20 shares in the last quarter. 82.12% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Company Profile