The Northcoast Research lowers the estimated FY2016 for Fastenal Co. (FAST)

The Northcoast Research lowers the estimated FY2016 for Fastenal Co. (FAST)

Fastenal Co. (NASDAQ:FAST) – Analysts at Northcoast Research cut their FY2016 earnings estimates for shares of Fastenal in a research report issued on Wednesday. Northcoast Research analyst T. Hayes now expects that the firm will earn $1.70 per share for the year, down from their previous estimate of $1.72. Northcoast Research also issued estimates for Fastenal’s Q4 2016 earnings at $0.37 EPS, Q2 2017 earnings at $0.48 EPS, Q3 2017 earnings at $0.46 EPS, Q4 2017 earnings at $0.40 EPS and FY2017 earnings at $1.81 EPS.

Several other research firms also recently commented on FAST. 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. Credit Suisse Group AG reissued a “neutral” rating and set a $43.00 target price on shares of Fastenal in a research report on Friday, June 17th. BMO Capital Markets reissued 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. reissued a “hold” rating on shares of Fastenal in a research report on Sunday, September 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.15.

Shares of Fastenal (NASDAQ:FAST) opened at 38.34 on Thursday. The firm’s 50-day moving average price is $41.44 and its 200 day moving average price is $44.06. The firm has a market cap of $11.08 billion, a PE ratio of 21.91 and a beta of 0.99. Fastenal has a 52 week low of $35.10 and a 52 week high of $49.99.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.01 billion for the quarter. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently made changes to their positions in FAST. Ngam Advisors L.P. boosted its position in shares of Fastenal by 52.6% in the first quarter. Ngam Advisors L.P. now owns 26,251 shares of the company’s stock worth $1,286,000 after buying an additional 9,050 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Fastenal by 2.9% in the first quarter. Prudential Financial Inc. now owns 357,903 shares of the company’s stock worth $17,537,000 after buying an additional 10,130 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Fastenal by 1.0% in the first quarter. Bessemer Group Inc. now owns 66,946 shares of the company’s stock worth $3,280,000 after buying an additional 681 shares in the last quarter. Aviva PLC boosted its position in shares of Fastenal by 1.2% in the first quarter. Aviva PLC now owns 133,840 shares of the company’s stock worth $6,558,000 after buying an additional 1,565 shares in the last quarter. Finally, Motley Fool Wealth Management LLC boosted its position in shares of Fastenal by 1.6% in the first quarter. Motley Fool Wealth Management LLC now owns 104,198 shares of the company’s stock worth $5,106,000 after buying an additional 1,633 shares in the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, October 25th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Friday, October 21st. Fastenal’s dividend payout ratio is 69.77%.

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