Brokerages Set Fastenal Company (NASDAQ:FAST) PT at $48.45

Shares of Fastenal Company (NASDAQ:FAST - Get Free Report) have been given a consensus recommendation of "Hold" by the twelve brokerages that are currently covering the company, Marketbeat Ratings 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 price target among brokerages that have covered the stock in the last year is $48.45.

A number of research analysts recently issued reports on FAST shares. Stifel Nicolaus set a $82.00 target price on shares of Fastenal in a research note on Thursday, July 3rd. Loop Capital upped their price target on shares of Fastenal from $40.00 to $45.00 and gave the company a "hold" rating in a report on Tuesday. Stephens reiterated an "equal weight" rating on shares of Fastenal in a research note on Thursday, July 3rd. Morgan Stanley set a $40.00 price objective on Fastenal and gave the stock an "equal weight" rating in a research report on Thursday, July 3rd. Finally, Robert W. Baird set a $86.00 target price on Fastenal in a report on Thursday, July 3rd.

Insider Buying and Selling at Fastenal

In other Fastenal news, EVP William Joseph Drazkowski sold 30,000 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $40.66, for a total value of $1,219,650.00. Following the sale, the executive vice president owned 11,994 shares of the company's stock, valued at $487,616.07. The trade was a 71.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott Satterlee sold 19,340 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $39.76, for a total transaction of $768,861.70. Following the transaction, the director owned 50,000 shares of the company's stock, valued at approximately $1,987,750. This represents a 27.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,200 shares of company stock valued at $7,895,625 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FAST. Oregon Public Employees Retirement Fund increased its stake in shares of Fastenal by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 49,219 shares of the company's stock valued at $3,817,000 after buying an additional 130 shares in the last quarter. Anchor Investment Management LLC grew its holdings in Fastenal by 3.4% during the fourth quarter. Anchor Investment Management LLC now owns 4,134 shares of the company's stock valued at $297,000 after purchasing an additional 135 shares during the period. Welch & Forbes LLC raised its stake in Fastenal by 0.4% during the 1st quarter. Welch & Forbes LLC now owns 32,992 shares of the company's stock worth $2,559,000 after buying an additional 135 shares during the period. Principal Securities Inc. increased its position in shares of Fastenal by 0.9% during the first quarter. Principal Securities Inc. now owns 15,886 shares of the company's stock worth $1,142,000 after acquiring an additional 140 shares in the last quarter. Finally, Salvus Wealth Management LLC boosted its position in shares of Fastenal by 1.6% during the first quarter. Salvus Wealth Management LLC now owns 9,000 shares of the company's stock worth $698,000 after buying an additional 141 shares during the period. 81.38% of the stock is owned by institutional investors.

Fastenal Stock Down 0.6%

Shares of NASDAQ FAST traded down $0.26 during mid-day trading on Wednesday, reaching $43.30. 5,487,008 shares of the company traded hands, compared to its average volume of 6,032,658. The company's fifty day moving average is $41.45 and its two-hundred day moving average is $39.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.14 and a current ratio of 4.28. Fastenal has a fifty-two week low of $32.00 and a fifty-two week high of $44.00. The stock has a market cap of $49.68 billion, a PE ratio of 43.09, a price-to-earnings-growth ratio of 4.02 and a beta of 0.96.

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

About Fastenal

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.