Fastenal (NASDAQ:FAST) Price Target Raised to $80.00

Fastenal (NASDAQ:FAST - Get Free Report) had its price target increased by investment analysts at Stephens from $75.00 to $80.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Stephens' target price points to a potential downside of 1.88% from the company's current price.

Other research analysts have also issued research reports about the stock. William Blair raised shares of Fastenal from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. Wolfe Research upgraded Fastenal from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stifel Nicolaus cut their price target on Fastenal from $86.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Finally, Robert W. Baird raised their price objective on shares of Fastenal from $80.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fastenal presently has a consensus rating of "Hold" and a consensus price target of $79.10.

Fastenal Stock Up 1.3 %

Fastenal stock traded up $1.09 during mid-day trading on Tuesday, hitting $81.54. 3,497,558 shares of the company's stock were exchanged, compared to its average volume of 3,087,855. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The stock has a 50 day moving average of $76.29 and a two-hundred day moving average of $76.68. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The stock has a market cap of $46.76 billion, a P/E ratio of 40.56, a P/E/G ratio of 3.58 and a beta of 1.05.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The company reported $0.52 EPS for the quarter, meeting analysts' consensus estimates of $0.52. Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts anticipate that Fastenal will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP William Joseph Drazkowski sold 15,000 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $81.31, for a total transaction of $1,219,650.00. Following the completion of the sale, the executive vice president now owns 5,997 shares in the company, valued at $487,616.07. This trade represents a 71.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fastenal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FAST. Itau Unibanco Holding S.A. lifted its holdings 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 buying an additional 506 shares in the last quarter. OFI Invest Asset Management bought a new position in Fastenal in the fourth quarter valued at about $46,000. Whipplewood Advisors LLC acquired a new stake in Fastenal in the fourth quarter worth about $49,000. SBI Securities Co. Ltd. acquired a new stake in Fastenal in the fourth quarter worth about $49,000. Finally, R Squared Ltd acquired a new position in Fastenal during the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Fastenal Company Profile

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.