Fastenal Company (NASDAQ:FAST) Receives $48.45 Consensus Target Price from Analysts

Shares of Fastenal Company (NASDAQ:FAST - Get Free Report) have received a consensus recommendation of "Hold" from the twelve brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $48.45.

FAST has been the topic of several analyst reports. Stifel Nicolaus set a $82.00 target price on shares of Fastenal in a report on Thursday, July 3rd. JPMorgan Chase & Co. increased their target price on shares of Fastenal from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Robert W. Baird set a $86.00 target price on shares of Fastenal in a report on Thursday, July 3rd. Loop Capital raised their price objective on shares of Fastenal from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Tuesday. Finally, Stephens restated an "equal weight" rating on shares of Fastenal in a report on Thursday, July 3rd.

Fastenal Trading Up 1.0%

NASDAQ FAST traded up $0.45 during trading hours on Wednesday, hitting $43.85. The company's stock had a trading volume of 1,216,169 shares, compared to its average volume of 6,558,070. The stock has a fifty day moving average of $41.39 and a 200 day moving average of $39.08. Fastenal has a twelve month low of $32.00 and a twelve month high of $43.98. The firm has a market capitalization of $50.30 billion, a P/E ratio of 43.63, a PEG ratio of 3.97 and a beta of 0.96. The company has a quick ratio of 2.14, a current ratio of 4.28 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. Fastenal had a net margin of 15.13% and a return on equity of 31.99%. Fastenal's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. Equities research analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Daniel L. Florness sold 100,000 shares of Fastenal stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $41.06, for a total value of $4,106,000.00. Following the completion of the transaction, the chief executive officer owned 565,036 shares of the company's stock, valued at $23,200,378.16. This trade represents a 15.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Anthony Paul Broersma sold 11,136 shares of Fastenal stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $40.60, for a total transaction of $452,065.92. The disclosure for this sale can be found here. Insiders have sold 193,200 shares of company stock valued at $7,895,625 in the last quarter. Company insiders own 0.37% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FAST. Community Trust & Investment Co. boosted its holdings in shares of Fastenal by 100.0% during the 2nd quarter. Community Trust & Investment Co. now owns 13,664 shares of the company's stock worth $574,000 after buying an additional 6,832 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Fastenal by 134.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 855,561 shares of the company's stock valued at $36,900,000 after buying an additional 490,867 shares in the last quarter. Longboard Asset Management LP acquired a new position in shares of Fastenal in the 2nd quarter valued at approximately $203,000. Bath Savings Trust Co raised its position in shares of Fastenal by 96.6% in the 2nd quarter. Bath Savings Trust Co now owns 11,418 shares of the company's stock valued at $480,000 after buying an additional 5,609 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Fastenal by 102.9% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 429,512 shares of the company's stock valued at $18,040,000 after buying an additional 217,856 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.