Fastenal Company (NASDAQ:FAST)‘s stock had its “hold” rating reiterated by analysts at BMO Capital Markets in a research report issued to clients and investors on Monday. They currently have a $46.00 price target on the stock. BMO Capital Markets’ price target would suggest a potential upside of 13.08% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Longbow Research raised shares of Fastenal from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Friday, June 2nd. Robert W. Baird raised shares of Fastenal from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a research report on Wednesday, July 12th. Credit Suisse Group set a $52.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research report on Thursday, May 4th. BidaskClub downgraded shares of Fastenal from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective (down previously from $46.00) on shares of Fastenal in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Fastenal presently has a consensus rating of “Buy” and an average target price of $49.85.

Fastenal (NASDAQ FAST) opened at 40.68 on Monday. The firm’s 50 day moving average price is $43.10 and its 200 day moving average price is $46.24. Fastenal has a one year low of $37.70 and a one year high of $52.74. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 22.39 and a beta of 0.98.

Fastenal (NASDAQ:FAST) last released its earnings results on Wednesday, July 12th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Fastenal had a net margin of 12.71% and a return on equity of 26.86%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 EPS. Equities analysts forecast that Fastenal will post $1.92 earnings per share for the current year.

Fastenal announced that its Board of Directors has authorized a share repurchase program on Tuesday, July 11th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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In related news, Director Daniel L. Johnson purchased 600 shares of Fastenal stock in a transaction dated Monday, July 24th. The stock was bought at an average cost of $42.71 per share, with a total value of $25,626.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael John Dolan sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.01, for a total transaction of $344,080.00. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,600 shares of company stock valued at $154,256. Company insiders own 0.55% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Fayerweather Charles acquired a new stake in Fastenal during the second quarter valued at approximately $209,000. Advisory Services Network LLC acquired a new stake in Fastenal during the first quarter valued at approximately $191,000. Grandeur Peak Global Advisors LLC raised its stake in Fastenal by 2.3% in the first quarter. Grandeur Peak Global Advisors LLC now owns 106,325 shares of the company’s stock valued at $5,476,000 after buying an additional 2,425 shares in the last quarter. CENTRAL TRUST Co raised its stake in Fastenal by 13.4% in the second quarter. CENTRAL TRUST Co now owns 3,665 shares of the company’s stock valued at $159,000 after buying an additional 433 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Fastenal by 5.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,332,219 shares of the company’s stock valued at $68,610,000 after buying an additional 68,976 shares in the last quarter. 81.68% of the stock is owned by institutional investors.

Fastenal Company Profile

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.

Analyst Recommendations for Fastenal (NASDAQ:FAST)

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