Fastenal (NASDAQ:FAST) Price Target Raised to $47.00 at Barclays

Fastenal (NASDAQ:FAST) had its target price upped by Barclays from $46.00 to $47.00 in a research report report published on Monday morning, MarketBeat.com reports. They currently have an equal weight rating on the stock.

FAST has been the topic of several other reports. Sanford C. Bernstein restated an “underperform” rating and set a $42.00 price target on shares of Fastenal in a report on Tuesday, April 14th. DA Davidson assumed coverage on shares of Fastenal in a report on Tuesday, June 16th. They issued a “neutral” rating and a $46.00 price objective for the company. Bank of America lifted their target price on shares of Fastenal from $48.00 to $55.00 in a research report on Monday, April 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research note on Friday, March 27th. Finally, Robert W. Baird cut their price target on shares of Fastenal from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Fastenal currently has a consensus rating of “Hold” and a consensus price target of $47.15.

Fastenal Trading Down 0.9%

NASDAQ FAST opened at $47.90 on Monday. The company has a quick ratio of 2.34, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. Fastenal has a twelve month low of $38.97 and a twelve month high of $50.63. The company has a market cap of $54.99 billion, a price-to-earnings ratio of 42.05, a price-to-earnings-growth ratio of 3.10 and a beta of 0.72. The business’s fifty day moving average is $45.39 and its 200 day moving average is $44.92.

Fastenal (NASDAQ:FAST) last issued its earnings results on Monday, April 13th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Fastenal had a return on equity of 33.25% and a net margin of 15.39%.The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts expect that Fastenal will post 1.23 EPS for the current fiscal year.

Fastenal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, April 28th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, April 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. Fastenal’s dividend payout ratio is 84.21%.

Hedge Funds Weigh In On Fastenal

Several hedge funds and other institutional investors have recently bought and sold shares of FAST. Elyxium Wealth LLC acquired a new stake in Fastenal during the 4th quarter worth about $25,000. Palladiem LLC bought a new stake in shares of Fastenal during the 4th quarter valued at about $25,000. Evergreen Advisors LLC bought a new stake in shares of Fastenal during the 1st quarter valued at about $26,000. MV Capital Management Inc. acquired a new stake in Fastenal during the fourth quarter worth approximately $29,000. Finally, Field & Main Bank acquired a new stake in Fastenal during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Company Profile

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.