Fastenal (NASDAQ:FAST) was upgraded by research analysts at Credit Suisse Group to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $61.00 target price on the stock. Credit Suisse Group’s target price would suggest a potential upside of 16.86% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. Stephens reissued a “buy” rating and issued a $62.00 target price on shares of Fastenal in a research note on Thursday. Robert W. Baird reissued a “buy” rating on shares of Fastenal in a research note on Wednesday. BMO Capital Markets reissued a “hold” rating and issued a $57.00 target price on shares of Fastenal in a research note on Tuesday, January 9th. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Thursday, January 4th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Fastenal in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $53.50.
Fastenal (FAST) opened at $52.20 on Thursday. Fastenal has a one year low of $39.79 and a one year high of $56.15. 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 company has a market cap of $15,932.92, a price-to-earnings ratio of 27.77, a PEG ratio of 1.86 and a beta of 1.09.
In other Fastenal news, insider Terry Modock Owen sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total transaction of $1,440,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Leland J. Hein sold 10,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $48.00, for a total transaction of $480,000.00. Following the transaction, the vice president now directly owns 20,258 shares of the company’s stock, valued at $972,384. The disclosure for this sale can be found here. Insiders have sold a total of 62,746 shares of company stock worth $3,061,819 in the last ninety days. 0.55% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Commonwealth Bank of Australia grew its holdings in Fastenal by 44.9% during the 2nd 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. Fuller & Thaler Asset Management Inc. acquired a new position in Fastenal during the 3rd quarter worth $114,000. Cable Hill Partners LLC acquired a new position in Fastenal during the 3rd quarter worth $126,000. Krilogy Financial LLC grew its holdings in Fastenal by 2.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock worth $154,000 after acquiring an additional 70 shares in the last quarter. Finally, Carlson Capital Management acquired a new position in Fastenal during the 4th quarter worth $219,000. 84.57% of the stock is owned by institutional investors.
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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.
