Fastenal (NASDAQ:FAST) has been assigned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $50.93.

A number of analysts recently issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $51.00 price target on shares of Fastenal in a report on Monday. BMO Capital Markets reiterated a “market perform” rating and issued a $51.00 price target (up previously from $46.00) on shares of Fastenal in a report on Tuesday, October 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 price target (up previously from $44.00) on shares of Fastenal in a report on Monday, October 2nd. Stephens set a $54.00 price target on Fastenal and gave the company a “buy” rating in a report on Wednesday, October 11th. Finally, KeyCorp restated a “buy” rating and set a $52.00 target price on shares of Fastenal in a report on Thursday, October 12th.

In other Fastenal news, insider Leland J. Hein sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. Following the completion of the sale, the insider now owns 22,588 shares in the company, valued at $1,151,988. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Terry Modock Owen sold 30,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $48.02, for a total value of $1,440,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,112 shares of company stock valued at $3,879,832. 0.55% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Nuance Investments LLC acquired a new position in shares of Fastenal during the second quarter worth $3,048,000. Sawtooth Solutions LLC increased its position in shares of Fastenal by 15.4% during the second quarter. Sawtooth Solutions LLC now owns 24,473 shares of the company’s stock worth $1,065,000 after purchasing an additional 3,275 shares in the last quarter. Seven Eight Capital LP increased its position in shares of Fastenal by 67.2% during the second quarter. Seven Eight Capital LP now owns 9,700 shares of the company’s stock worth $422,000 after purchasing an additional 3,900 shares in the last quarter. Girard Partners LTD. increased its position in shares of Fastenal by 14.5% in the 2nd quarter. Girard Partners LTD. now owns 11,674 shares of the company’s stock valued at $508,000 after acquiring an additional 1,477 shares during the period. Finally, Korea Investment CORP increased its position in shares of Fastenal by 62.5% in the 3rd quarter. Korea Investment CORP now owns 76,983 shares of the company’s stock valued at $3,509,000 after acquiring an additional 29,600 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of Fastenal (NASDAQ FAST) traded up $0.04 during midday trading on Monday, hitting $53.82. The company had a trading volume of 1,652,441 shares, compared to its average volume of 2,797,891. The company has a quick ratio of 2.45, a current ratio of 5.36 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $15,430.00, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.99 and a beta of 1.08. Fastenal has a 12-month low of $39.79 and a 12-month high of $55.35.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings results on Wednesday, October 11th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Fastenal had a return on equity of 27.28% and a net margin of 12.73%. Fastenal’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. equities research analysts anticipate that Fastenal will post 1.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, October 25th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $1.28 dividend on an annualized basis and a yield of 2.38%. Fastenal’s dividend payout ratio is currently 68.09%.

WARNING: This story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/12/11/fastenal-fast-receives-average-recommendation-of-buy-from-analysts.html.

About Fastenal

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)

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.