Fastenal (NASDAQ:FAST) Stock Rating Lowered by Stifel Nicolaus

Fastenal (NASDAQ:FAST - Get Free Report) was downgraded by equities researchers at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $86.00 target price on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 8.50% from the stock's current price.

FAST has been the subject of several other research reports. UBS Group began coverage on Fastenal in a research note on Wednesday, November 13th. They set a "neutral" rating and a $88.00 target price for the company. Jefferies Financial Group upped their target price on shares of Fastenal from $74.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Bank of America started coverage on shares of Fastenal in a research note on Monday, October 7th. They issued a "buy" rating and a $85.00 price target on the stock. Morgan Stanley boosted their target price on Fastenal from $72.00 to $76.00 and gave the company an "equal weight" rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price target on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $77.40.

Fastenal Price Performance

FAST stock traded down $0.51 during mid-day trading on Wednesday, reaching $79.26. The company's stock had a trading volume of 2,522,886 shares, compared to its average volume of 3,247,634. The company has a current ratio of 4.40, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The company's 50 day moving average is $78.98 and its two-hundred day moving average is $71.08. Fastenal has a fifty-two week low of $61.33 and a fifty-two week high of $84.88. The stock has a market cap of $45.41 billion, a PE ratio of 39.43, a P/E/G ratio of 4.79 and a beta of 1.00.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its earnings results on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. The firm's quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Equities research analysts expect that Fastenal will post 2.03 EPS for the current year.

Insider Activity at Fastenal

In related news, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at $24,168,521. This represents a 10.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Charles S. Miller sold 23,480 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $83.92, for a total value of $1,970,441.60. The disclosure for this sale can be found here. Insiders have sold 208,289 shares of company stock valued at $16,123,438 in the last ninety days. Insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Fastenal

A number of large investors have recently made changes to their positions in FAST. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal during the 3rd quarter worth approximately $25,000. Knuff & Co LLC acquired a new position in shares of Fastenal in the third quarter worth $27,000. Triad Wealth Partners LLC purchased a new stake in shares of Fastenal in the second quarter valued at $32,000. Crewe Advisors LLC boosted its stake in shares of Fastenal by 528.4% during the second quarter. Crewe Advisors LLC now owns 509 shares of the company's stock valued at $32,000 after acquiring an additional 428 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC increased its position in Fastenal by 1,019.0% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company's stock worth $34,000 after purchasing an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

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.