Fastenal (NASDAQ:FAST) Receives $76.91 Consensus Target Price from Analysts

Shares of Fastenal (NASDAQ:FAST - Get Free Report) have been assigned an average recommendation of "Reduce" from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $76.91.

A number of research firms recently commented on FAST. Jefferies Financial Group upped their price objective on Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a report on Friday, December 6th. Hsbc Global Res cut Fastenal from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, December 11th. Wolfe Research lifted their price objective on shares of Fastenal from $74.00 to $76.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. UBS Group assumed coverage on shares of Fastenal in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $88.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on shares of Fastenal from $86.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st.

Fastenal Trading Down 0.9 %

Shares of NASDAQ:FAST traded down $0.65 during trading on Friday, hitting $73.68. 1,990,742 shares of the company's stock were exchanged, compared to its average volume of 3,114,037. 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 firm has a market cap of $42.21 billion, a P/E ratio of 36.66, a PEG ratio of 3.55 and a beta of 1.02. The firm has a 50-day moving average price of $75.09 and a two-hundred day moving average price of $74.04. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. Fastenal's revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share. Equities analysts predict that Fastenal will post 2.15 earnings per share for the current year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, January 31st. This is a boost from Fastenal's previous quarterly dividend of $0.39. Fastenal's dividend payout ratio is 85.57%.

Institutional Trading of Fastenal

A number of institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Fastenal during the 3rd quarter worth about $25,000. Knuff & Co LLC bought a new stake in Fastenal during the third quarter worth about $27,000. First Personal Financial Services acquired a new position in Fastenal during the third quarter valued at approximately $36,000. CVA Family Office LLC boosted its position in Fastenal by 51.0% during the third quarter. CVA Family Office LLC now owns 533 shares of the company's stock valued at $38,000 after purchasing an additional 180 shares during the last quarter. Finally, MCF Advisors LLC increased its position in shares of Fastenal by 54.1% during the 3rd quarter. MCF Advisors LLC now owns 635 shares of the company's stock worth $45,000 after purchasing an additional 223 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

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.