Fastenal (FAST) Receives Average Recommendation of “Buy” from Analysts
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.
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%.
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.
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