Fastenal Co. (FAST) PT Set at $45.00 by BMO Capital Markets
Fastenal Co. (NASDAQ:FAST) received a $45.00 price objective from stock analysts at BMO Capital Markets in a research note issued on Wednesday. The brokerage currently has a a “hold” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 15.21% from the stock’s current price.
FAST has been the subject of a number of other research reports. Zacks Investment Research raised shares of Fastenal from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Morgan Stanley assumed coverage on shares of Fastenal in a report on Thursday, July 7th. They issued an “equal weight” rating and a $46.00 price target for the company. Macquarie assumed coverage on shares of Fastenal in a report on Thursday, August 25th. They issued a “neutral” rating and a $50.00 price target for the company. Wells Fargo & Co. reissued a “hold” rating on shares of Fastenal in a report on Sunday, September 4th. Finally, Credit Suisse Group AG reissued a “neutral” rating and issued a $43.00 price target on shares of Fastenal in a report on Friday, June 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. Fastenal has a consensus rating of “Hold” and an average price target of $47.30.
Fastenal (NASDAQ:FAST) traded down 1.72% during mid-day trading on Wednesday, hitting $38.39. The stock had a trading volume of 3,707,131 shares. Fastenal has a 1-year low of $35.10 and a 1-year high of $49.99. The company has a market cap of $11.09 billion, a P/E ratio of 21.94 and a beta of 0.99. The company has a 50-day moving average price of $41.60 and a 200 day moving average price of $44.10.
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Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Tuesday, October 11th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. The company earned $1.01 billion during the quarter. Fastenal had a net margin of 12.61% and a return on equity of 26.84%. Fastenal’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. Equities research analysts forecast that Fastenal will post $1.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, October 25th will be given a $0.30 dividend. The ex-dividend date is Friday, October 21st. This represents a $1.20 annualized dividend and a yield of 3.07%. Fastenal’s dividend payout ratio is currently 69.77%.
A number of large investors have recently bought and sold shares of FAST. Cantab Capital Partners LLP bought a new stake in Fastenal during the second quarter valued at approximately $119,000. American Research & Management Co. boosted its stake in shares of Fastenal by 191.5% in the second quarter. American Research & Management Co. now owns 2,740 shares of the company’s stock valued at $122,000 after buying an additional 1,800 shares during the period. Washington Trust Bank boosted its stake in shares of Fastenal by 2.3% in the second quarter. Washington Trust Bank now owns 2,762 shares of the company’s stock valued at $123,000 after buying an additional 62 shares during the period. Van ECK Associates Corp boosted its stake in shares of Fastenal by 32.0% in the second quarter. Van ECK Associates Corp now owns 3,131 shares of the company’s stock valued at $139,000 after buying an additional 759 shares during the period. Finally, FineMark National Bank & Trust boosted its stake in shares of Fastenal by 0.6% in the second quarter. FineMark National Bank & Trust now owns 3,420 shares of the company’s stock valued at $152,000 after buying an additional 20 shares during the period. 82.12% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Company Profile
Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business.
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