Fastenal (NASDAQ:FAST) Given New $53.00 Price Target at Morgan Stanley

Fastenal (NASDAQ:FAST) had its price target boosted by Morgan Stanley from $48.00 to $53.00 in a research report released on Friday, Analyst Ratings Network reports. Morgan Stanley currently has an underweight rating on the stock.

FAST has been the topic of several other research reports. Zacks Investment Research upgraded shares of Fastenal from a hold rating to a buy rating and set a $57.00 price target on the stock in a report on Tuesday, September 28th. Wells Fargo & Company cut shares of Fastenal from an equal weight rating to an underweight rating and dropped their target price for the company from $50.00 to $45.00 in a report on Friday, October 8th. Loop Capital boosted their target price on shares of Fastenal from $53.00 to $57.00 and gave the company a hold rating in a report on Tuesday, December 7th. They noted that the move was a valuation call. Finally, Robert W. Baird boosted their target price on shares of Fastenal from $59.00 to $62.00 and gave the company an outperform rating in a report on Tuesday, December 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Fastenal presently has an average rating of Hold and an average target price of $56.50.

FAST stock opened at $59.20 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.07 and a current ratio of 4.18. Fastenal has a one year low of $43.37 and a one year high of $64.75. The company’s 50 day moving average price is $61.47 and its two-hundred day moving average price is $56.87. The company has a market capitalization of $34.05 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 3.91 and a beta of 1.25.

Fastenal (NASDAQ:FAST) last issued its earnings results on Tuesday, October 12th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Fastenal had a net margin of 15.25% and a return on equity of 31.32%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts predict that Fastenal will post 1.57 EPS for the current year.

In other Fastenal news, VP John Lewis Soderberg sold 6,428 shares of Fastenal stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $59.36, for a total value of $381,566.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James C. Jansen sold 25,000 shares of Fastenal stock in a transaction on Monday, December 6th. The stock was sold at an average price of $62.02, for a total transaction of $1,550,500.00. The disclosure for this sale can be found here. Insiders have sold 38,058 shares of company stock valued at $2,349,690 in the last three months. 0.56% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the company. Sadoff Investment Management LLC boosted its stake in shares of Fastenal by 1.3% during the 3rd quarter. Sadoff Investment Management LLC now owns 12,628 shares of the company’s stock worth $652,000 after acquiring an additional 168 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in shares of Fastenal by 4.4% during the 4th quarter. Koshinski Asset Management Inc. now owns 4,115 shares of the company’s stock valued at $264,000 after buying an additional 175 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Fastenal by 2.6% during the 2nd quarter. Clearbridge Investments LLC now owns 7,135 shares of the company’s stock valued at $371,000 after buying an additional 183 shares in the last quarter. Waldron Private Wealth LLC lifted its stake in shares of Fastenal by 2.5% during the 3rd quarter. Waldron Private Wealth LLC now owns 7,604 shares of the company’s stock valued at $392,000 after buying an additional 187 shares in the last quarter. Finally, Berman Capital Advisors LLC lifted its stake in shares of Fastenal by 16.1% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,355 shares of the company’s stock valued at $70,000 after buying an additional 188 shares in the last quarter. Institutional investors and hedge funds own 77.19% of the company’s stock.

Fastenal Company Profile

Fastenal Co engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & furniture, janitorial and lighting.

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Analyst Recommendations for Fastenal (NASDAQ:FAST)

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