Fastenal (NASDAQ:FAST) Given New $52.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised its price target on Fastenal from $51 to $52 and maintained an "outperform" rating, implying roughly a 9.94% upside from the prior close.
• Analyst sentiment is mixed — six Buys, six Holds and two Sells — giving an average target price of $48.75.
• Fastenal reported quarterly EPS of $0.26 (in line with estimates) and revenue of $2.03 billion (slightly below estimates) but up 11.1% year-over-year; the stock opened at $47.30, with a market cap of about $54.3B and a P/E of 43.00.

Fastenal (NASDAQ:FAST - Get Free Report) had its target price hoisted by equities researchers at Robert W. Baird from $51.00 to $52.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price points to a potential upside of 9.94% from the stock's previous close.

A number of other research analysts have also weighed in on FAST. Jefferies Financial Group set a $52.00 target price on Fastenal and gave the stock a "buy" rating in a report on Monday, December 15th. Barclays set a $43.00 price objective on shares of Fastenal and gave the company an "equal weight" rating in a report on Wednesday, January 21st. Sanford C. Bernstein restated an "underperform" rating on shares of Fastenal in a research note on Wednesday, January 21st. Benchmark reaffirmed a "buy" rating on shares of Fastenal in a report on Thursday. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Fastenal in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Fastenal currently has an average rating of "Hold" and an average target price of $48.75.

Fastenal Stock Performance

Shares of FAST stock opened at $47.30 on Friday. The stock has a market cap of $54.32 billion, a P/E ratio of 43.00, a P/E/G ratio of 2.96 and a beta of 0.88. The company has a fifty day moving average price of $44.26 and a two-hundred day moving average price of $44.33. Fastenal has a one year low of $35.31 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.85 and a quick ratio of 2.41.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Tuesday, January 20th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. Fastenal's revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. As a group, equities analysts predict that Fastenal will post 2.15 EPS for the current year.

Insider Transactions at Fastenal

In other Fastenal news, Director Scott Satterlee sold 15,964 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the transaction, the director owned 50,000 shares in the company, valued at $2,209,500. This represents a 24.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fastenal

Institutional investors have recently made changes to their positions in the stock. Elyxium Wealth LLC acquired a new position in Fastenal in the 4th quarter valued at $25,000. Palladiem LLC bought a new position in shares of Fastenal in the fourth quarter worth $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in Fastenal in the second quarter valued at about $27,000. MV Capital Management Inc. bought a new stake in Fastenal during the fourth quarter worth about $29,000. Finally, NewSquare Capital LLC lifted its position in Fastenal by 197.5% during the second quarter. NewSquare Capital LLC now owns 714 shares of the company's stock worth $30,000 after purchasing an additional 474 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Fastenal Company Profile

Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.

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