Trade Report: The BMO Capital Markets Reiterates “$45.00” Price Target for Fastenal Co. (FAST)

The BMO Capital Markets Reiterates “$45.00” Price Target for Fastenal Co. (FAST)

BMO Capital Markets set a $45.00 price target on Fastenal Co. (NASDAQ:FAST) in a research note released on Wednesday morning. The brokerage currently has a a hold rating on the stock.

A number of other research analysts have also commented on the company. Vetr lowered Fastenal from a strong-buy rating to a hold rating and set a $42.46 price target for the company. in a report on Tuesday, September 6th. Zacks Investment Research upgraded Fastenal from a sell rating to a hold rating in a report on Tuesday, September 13th. Morgan Stanley initiated coverage on Fastenal in a report on Thursday, July 7th. They set an equal weight rating and a $46.00 price target for the company. Credit Suisse Group AG reiterated a neutral rating and set a $43.00 price target on shares of Fastenal in a report on Friday, June 17th. Finally, Macquarie initiated coverage on Fastenal in a report on Thursday, August 25th. They set a neutral rating and a $50.00 price target for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. Fastenal currently has an average rating of Hold and an average price target of $47.15.

Fastenal (NASDAQ:FAST) opened at 38.27 on Wednesday. The firm has a market cap of $11.06 billion, a P/E ratio of 21.87 and a beta of 0.99. The stock’s 50 day moving average is $41.13 and its 200 day moving average is $43.84. Fastenal has a one year low of $35.10 and a one year high of $49.99.

Fastenal (NASDAQ:FAST) last announced its earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $1.01 billion for the quarter. Fastenal had a return on equity of 26.84% and a net margin of 12.61%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, equities research analysts expect that Fastenal will post $1.74 earnings per share for the current year.

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.20 annualized dividend and a yield of 3.14%. Fastenal’s dividend payout ratio is currently 69.77%.

In other Fastenal news, Director Michael J. Ancius bought 700 shares of the firm’s stock in a transaction dated Thursday, October 13th. The shares were bought at an average price of $38.82 per share, for a total transaction of $27,174.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.78% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. FineMark National Bank & Trust boosted its stake in shares of Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock valued at $152,000 after buying an additional 20 shares during the last quarter. Strategic Advisors LLC boosted its stake in shares of Fastenal by 0.4% in the second quarter. Strategic Advisors LLC now owns 13,304 shares of the company’s stock valued at $591,000 after buying an additional 47 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Fastenal by 0.3% in the third quarter. Raymond James Trust N.A. now owns 16,934 shares of the company’s stock valued at $708,000 after buying an additional 48 shares during the last quarter. Washington Trust Bank boosted its stake in shares of Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock valued at $123,000 after buying an additional 62 shares during the last quarter. Finally, First Allied Advisory Services Inc. boosted its stake in shares of Fastenal by 0.5% in the second quarter. First Allied Advisory Services Inc. now owns 14,726 shares of the company’s stock valued at $652,000 after buying an additional 79 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Fastenal Company Profile

Related posts

Leave a Comment