Fastenal - FAST Stock Forecast, Price & News

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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines. It also offers miscellaneous supplies and hardware, including pins, machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the manufacturing market comprising original equipment manufacturers; maintenance, repair, and operations; and non-residential construction market, which includes general, electrical, plumbing, sheet metal, and road contractors. It also serves farmers, truckers, railroads, mining companies, schools, and retail trades; and oil exploration, production, and refinement companies, as well as federal, state, and local governmental entities. The company distributes its products through a network of 3,209 in-market locations and 15 distribution centers. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price target on Fastenal from $48.00 to $42.00 and set an "underweight" rating for the company in a research note on Thursday, July 14th. UBS Group reduced their price objective on Fastenal from $62.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, July 14th. Robert W. Baird cut Fastenal from an "outperform" rating to a "neutral" rating and set a $48.00 target price for the company. in a research report on Thursday, July 14th. StockNews.com cut Fastenal from a "buy" rating to a "hold" rating in a research report on Thursday, July 14th. Finally, Argus decreased their target price on Fastenal from $66.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $53.86.

Fastenal Stock Up 0.8 %

NASDAQ:FAST traded up $0.44 during trading on Tuesday, hitting $56.55. 71,509 shares of the company traded hands, compared to its average volume of 2,988,773. Fastenal has a 12 month low of $45.68 and a 12 month high of $64.75. The business has a fifty day simple moving average of $50.58 and a 200 day simple moving average of $53.36. The company has a current ratio of 3.71, a quick ratio of 1.75 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $32.50 billion, a P/E ratio of 31.48, a PEG ratio of 3.30 and a beta of 1.22.

Fastenal (NASDAQ:FAST - Get Rating) last posted its quarterly earnings data on Wednesday, July 13th. The company reported $0.50 EPS for the quarter, hitting analysts' consensus estimates of $0.50. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.77 billion. Fastenal had a return on equity of 33.47% and a net margin of 15.70%. The firm's revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, sell-side analysts predict that Fastenal will post 1.88 EPS for the current year.

Fastenal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Wednesday, July 27th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, July 26th. Fastenal's dividend payout ratio (DPR) is presently 69.27%.

Insider Buying and Selling

In other news, CAO Sheryl Ann Lisowski bought 1,058 shares of the firm's stock in a transaction that occurred on Thursday, July 14th. The shares were acquired at an average cost of $46.63 per share, with a total value of $49,334.54. Following the completion of the transaction, the chief accounting officer now directly owns 5,096 shares in the company, valued at $237,626.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP James C. Jansen bought 1,000 shares of the business's stock in a transaction dated Wednesday, June 15th. The stock was bought at an average price of $48.92 per share, for a total transaction of $48,920.00. Following the completion of the purchase, the executive vice president now owns 26,176 shares of the company's stock, valued at approximately $1,280,529.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheryl Ann Lisowski bought 1,058 shares of the business's stock in a transaction dated Thursday, July 14th. The stock was purchased at an average price of $46.63 per share, with a total value of $49,334.54. Following the purchase, the chief accounting officer now directly owns 5,096 shares of the company's stock, valued at approximately $237,626.48. The disclosure for this purchase can be found here. Insiders have bought a total of 2,736 shares of company stock valued at $131,599 over the last three months. 0.40% of the stock is owned by corporate insiders.