Fastenal (FAST) Receives Buy Rating from Robert W. Baird
Fastenal (NASDAQ:FAST)‘s stock had its “buy” rating reissued by equities research analysts at Robert W. Baird in a research note issued on Wednesday.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Fastenal from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and set a $57.00 price target on shares of Fastenal in a research note on Tuesday, January 9th. Credit Suisse Group reaffirmed an “outperform” rating and set a $61.00 price target (up previously from $52.00) on shares of Fastenal in a research note on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $51.00 price target on shares of Fastenal in a research note on Monday, December 11th. Finally, KeyCorp reaffirmed a “buy” rating and set a $52.00 price target on shares of Fastenal in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $52.93.
Fastenal (NASDAQ FAST) traded down $3.24 during trading on Wednesday, reaching $52.20. The company’s stock had a trading volume of 8,706,003 shares, compared to its average volume of 2,210,000. The company has a current ratio of 5.36, a quick ratio of 2.45 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $15,000.00, a price-to-earnings ratio of 27.91, a P/E/G ratio of 1.86 and a beta of 1.09. Fastenal has a one year low of $39.79 and a one year high of $56.15.
In other Fastenal news, insider Gary A. Polipnick sold 2,634 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $53.45, for a total value of $140,787.30. Following the transaction, the insider now owns 59,323 shares of the company’s stock, valued at $3,170,814.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were 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. Insiders sold 62,746 shares of company stock worth $3,061,819 in the last three months. Insiders own 0.55% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FAST. Federated Investors Inc. PA lifted its stake in Fastenal by 247.4% in the second quarter. Federated Investors Inc. PA now owns 7,053 shares of the company’s stock valued at $307,000 after buying an additional 5,023 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Fastenal by 280.3% in the second quarter. JPMorgan Chase & Co. now owns 245,340 shares of the company’s stock worth $10,681,000 after acquiring an additional 180,836 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in shares of Fastenal by 44.9% in the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock worth $104,000 after acquiring an additional 753 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Fastenal by 45.8% in the second quarter. Franklin Resources Inc. now owns 36,441 shares of the company’s stock worth $1,586,000 after acquiring an additional 11,439 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Fastenal by 1.9% in the second quarter. BlackRock Inc. now owns 17,796,450 shares of the company’s stock worth $774,680,000 after acquiring an additional 336,893 shares in the last quarter. 84.57% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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