Fastenal (NASDAQ:FAST) Given New $60.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised Fastenal’s price target to $60 from $59 and maintained an “outperform” rating, implying 15.38% upside from the prior close.
• Fastenal exceeded quarterly expectations, reporting $0.35 EPS and $2.46 billion in revenue; revenue increased 15.5% year over year, while net income rose 20% to $401.6 million.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $50.42 average price target, while shares trade near their 52-week high at about 43.6 times earnings.

Fastenal (NASDAQ:FAST - Get Free Report) had its price target boosted by analysts at Robert W. Baird from $59.00 to $60.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 15.38% from the stock's previous close.

A number of other research firms have also recently issued reports on FAST. Barclays cut their price target on Fastenal from $47.00 to $46.00 and set an "equal weight" rating on the stock in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Fastenal from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. William Blair reiterated an "outperform" rating on shares of Fastenal in a research note on Friday, September 4th. Sanford C. Bernstein reiterated an "underperform" rating on shares of Fastenal in a research report on Wednesday, July 15th. Finally, Morgan Stanley increased their target price on shares of Fastenal from $48.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $50.42.

Fastenal Stock Up 1.1%

Shares of Fastenal stock opened at $52.00 on Thursday. The stock's 50-day moving average is $50.37 and its 200 day moving average is $47.46. Fastenal has a one year low of $38.97 and a one year high of $52.92. The firm has a market cap of $59.67 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 3.19 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.21.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Wednesday, October 14th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Fastenal had a return on equity of 34.03% and a net margin of 15.45%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the company posted $0.29 earnings per share. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Fastenal will post 1.26 EPS for the current year.

Insider Buying and Selling

In other Fastenal news, Director Rita J. Heise sold 34,964 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $1,001,000. This represents a 63.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Ancius sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the sale, the director directly owned 58,690 shares of the company's stock, valued at $2,875,810. This trade represents a 4.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Fastenal

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Fastenal during the 2nd quarter worth $5,105,454,000. Bank of New York Mellon Corp purchased a new position in shares of Fastenal in the 2nd quarter worth about $859,310,000. Legal & General Group Plc purchased a new position in shares of Fastenal in the 2nd quarter worth about $410,919,000. Deutsche Bank AG bought a new position in Fastenal during the second quarter valued at about $239,279,000. Finally, Hsbc Holdings PLC bought a new position in Fastenal during the second quarter valued at about $230,169,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal News Roundup

Here are the key news stories impacting Fastenal this week:

• Positive Sentiment: Q3 earnings exceeded expectations: Fastenal reported adjusted earnings of $0.35 per share versus the $0.34 consensus estimate. Revenue rose 15.5% year over year to $2.46 billion, slightly above expectations, while net income increased 20% to $401.6 million. Fastenal Company Reports 2026 Third Quarter Earnings
• Positive Sentiment: Growth with major customers remains strong: Management cited manufacturing demand, larger-customer wins and continued adoption of Onsite, digital and supply-chain solutions. Expense leverage also helped support profit growth and margins. Fastenal quarterly profit rises 20%
• Positive Sentiment: Shareholder returns remain supportive: Fastenal declared a quarterly dividend of $0.26 per share, or $1.04 annualized, representing an approximately 2% yield. Jefferies also raised its price target from $52 to $60, reflecting confidence in the company’s growth outlook. Jefferies raises Fastenal stock target
• Neutral Sentiment: Investors are balancing growth against valuation: FAST trades near its 52-week high at roughly 43.6 times earnings, leaving limited room for disappointment despite strong operating momentum. Fastenal: I See No Reason To Pay A Higher Premium
• Negative Sentiment: Higher spending and device-signing concerns weigh on the outlook: Management expects 27,000 to 29,000 weighted device signings in 2026, and reports characterized the target as a reduction that could slow future growth. Investors are also concerned that increased spending may pressure margins. Fastenal dips on heavier spending expectations

Fastenal Company Profile

Fastenal Company is a distributor of industrial and construction supplies serving businesses, contractors, manufacturers and other organizations. Its product offerings include fasteners such as bolts, nuts and screws, as well as safety equipment, tools, cutting tools, material-handling products, electrical and plumbing supplies, and maintenance and repair items.

The company sells products through a network of branch locations, onsite customer facilities, industrial vending machines and digital platforms.

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