Fastenal Company Rating Increased to Buy at Edward Jones (FAST)
In other Fastenal Company news, EVP Gary A. Polipnick purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average cost of $44.55 per share, for a total transaction of $111,375.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Fastenal Company in a research note on Tuesday, July 15th. They now have a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Fastenal Company presently has a consensus rating of “Buy” and an average target price of $50.00.
Shares of Fastenal Company (NASDAQ:FAST) traded down 0.32% on Monday, hitting $45.01. The stock had a trading volume of 2,337,530 shares. Fastenal Company has a 52 week low of $42.48 and a 52 week high of $52.21. The stock’s 50-day moving average is $48.23 and its 200-day moving average is $48.01. The company has a market cap of $13.358 billion and a P/E ratio of 29.06.
Fastenal Company (NASDAQ:FAST) last released its earnings data on Friday, July 11th. The company reported $0.44 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.44. The company had revenue of $949.94 million for the quarter, compared to the consensus estimate of $952.95 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts expect that Fastenal Company will post $1.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Investors of record on Friday, July 25th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, July 23rd.
Fastenal Company is engaged in selling industrial and construction supplies in a wholesale and retail fashion.
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