Fastenal (NASDAQ:FAST) Receives Average Rating of “Hold” from Analysts

Shares of Fastenal (NASDAQ:FAST) have been given an average rating of “Hold” by the twelve research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $76.91.

A number of research analysts have recently issued reports on FAST shares. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price target on the stock. in a report on Wednesday, December 11th. Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Jefferies Financial Group lifted their price target on Fastenal from $74.00 to $85.00 and gave the company a “hold” rating in a report on Friday, December 6th. William Blair upgraded Fastenal from a “market perform” rating to an “outperform” rating in a report on Monday. Finally, Wolfe Research raised their price objective on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th.

Institutional Trading of Fastenal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FAST. Ashton Thomas Securities LLC acquired a new stake in Fastenal during the 3rd quarter worth about $25,000. Knuff & Co LLC acquired a new stake in Fastenal during the 3rd quarter worth about $27,000. First Personal Financial Services acquired a new stake in Fastenal during the 3rd quarter worth about $36,000. Itau Unibanco Holding S.A. lifted its position in Fastenal by 481.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 611 shares of the company’s stock worth $44,000 after acquiring an additional 506 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Fastenal during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Trading Down 1.8 %

FAST opened at $75.99 on Thursday. Fastenal has a 52 week low of $61.36 and a 52 week high of $84.88. The stock’s fifty day moving average is $74.62 and its two-hundred day moving average is $75.20. The company has a market capitalization of $43.58 billion, a P/E ratio of 37.81, a PEG ratio of 3.58 and a beta of 1.05. The company has a quick ratio of 2.28, a current ratio of 4.67 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. Analysts forecast that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were given a dividend of $0.43 per share. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.26%. This is a boost from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is currently 85.57%.

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.