The Fastenal Co. (FAST) Receives “Neutral” Rating from Robert W. Baird

The Fastenal Co. (FAST) Receives “Neutral” Rating from Robert W. Baird

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

Related posts

Leave a Comment