Fastenal’s (FAST) Neutral Rating Reaffirmed at DA Davidson

DA Davidson reissued their neutral rating on shares of Fastenal (NASDAQ:FAST) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $46.00 target price on the stock.

A number of other brokerages have also recently commented on FAST. Morgan Stanley set a $48.00 target price on shares of Fastenal and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Wolfe Research restated an “underperform” rating and set a $47.00 price target on shares of Fastenal in a research report on Thursday, July 9th. Rothschild & Co Redburn set a $55.00 price objective on Fastenal and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Fastenal in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. boosted their target price on Fastenal from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $48.58.

Fastenal Stock Down 0.8%

Shares of NASDAQ FAST opened at $45.36 on Wednesday. Fastenal has a one year low of $38.97 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 2.34. The firm’s 50 day simple moving average is $45.64 and its two-hundred day simple moving average is $45.14. The stock has a market capitalization of $52.08 billion, a P/E ratio of 38.44, a PEG ratio of 2.90 and a beta of 0.72.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.34 billion. Fastenal had a net margin of 15.45% and a return on equity of 34.03%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. As a group, analysts expect that Fastenal will post 1.24 EPS for the current fiscal year.

Fastenal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, July 28th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, July 28th. This is a positive change from Fastenal’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 2.3%. Fastenal’s payout ratio is currently 84.21%.

Hedge Funds Weigh In On Fastenal

Several institutional investors and hedge funds have recently added to or reduced their stakes in FAST. State Street Corp boosted its holdings in shares of Fastenal by 1.2% during the 4th quarter. State Street Corp now owns 54,734,674 shares of the company’s stock valued at $2,196,502,000 after buying an additional 631,889 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Fastenal by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 47,297,047 shares of the company’s stock worth $1,898,031,000 after acquiring an additional 919,158 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Fastenal by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 37,699,836 shares of the company’s stock worth $1,508,216,000 after acquiring an additional 685,047 shares in the last quarter. Invesco Ltd. lifted its position in Fastenal by 14.0% during the 3rd quarter. Invesco Ltd. now owns 18,215,875 shares of the company’s stock valued at $893,307,000 after acquiring an additional 2,242,116 shares during the period. Finally, Bank of America Corp DE boosted its stake in Fastenal by 12.0% during the first quarter. Bank of America Corp DE now owns 16,292,425 shares of the company’s stock worth $755,969,000 after acquiring an additional 1,744,193 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Key Fastenal News

Here are the key news stories impacting Fastenal this week:

• Positive Sentiment: Fastenal reported Q2 revenue of $2.39 billion, topping estimates and rising 14.7% year over year, helped by strong daily sales growth, larger-customer gains, and favorable pricing. Fastenal Company Reports 2026 Second Quarter Earnings
• Positive Sentiment: Several analysts remained constructive after the report, including Rothschild & Co Redburn with a Buy rating and $55 target, and William Blair with a Buy rating on expectations for second-half operating leverage. Rothschild & Co Redburn coverage update
• Positive Sentiment: Morningstar highlighted Fastenal’s ability to use operating leverage to compound earnings, reinforcing the view that the company has a durable business model. Morningstar company report
• Neutral Sentiment: DA Davidson reaffirmed a Neutral rating and set a $46 price target, which is only modestly above the current share price and suggests limited near-term upside. DA Davidson rating update
• Neutral Sentiment: Morgan Stanley kept a Hold rating with a $48 target, signaling that the quarter was solid but not strong enough to change a cautious stance. Morgan Stanley rating update
• Negative Sentiment: The market’s concern appears to be margin compression and weaker cash flow, since earnings merely met estimates rather than beat them decisively, even with strong revenue growth. Zacks earnings commentary

About Fastenal

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.