Fastenal (NASDAQ:FAST) Given New $82.00 Price Target at Stifel Nicolaus

Fastenal (NASDAQ:FASTGet Free Report) had its target price lowered by analysts at Stifel Nicolaus from $86.00 to $82.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 6.20% from the company’s previous close.

Other equities analysts have also issued reports about the company. HSBC lowered Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Jefferies Financial Group boosted their price objective on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of Fastenal from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Wolfe Research upped their price target on shares of Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, Hsbc Global Res downgraded Fastenal from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.91.

Check Out Our Latest Stock Report on FAST

Fastenal Trading Up 1.5 %

Fastenal stock traded up $1.13 during trading on Tuesday, reaching $77.21. The company had a trading volume of 1,455,980 shares, compared to its average volume of 3,173,283. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 4.67. The firm has a market capitalization of $44.23 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 4.18 and a beta of 1.02. Fastenal has a 12-month low of $61.36 and a 12-month high of $84.88. The stock’s 50 day moving average price is $77.75 and its two-hundred day moving average price is $73.17.

Fastenal (NASDAQ:FASTGet Free Report) last released its quarterly earnings data on Friday, January 17th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Fastenal had a return on equity of 32.55% and a net margin of 15.25%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1,842,560.16 billion. During the same quarter in the previous year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Fastenal will post 2.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fastenal news, Director Daniel L. Johnson sold 8,474 shares of Fastenal stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.36, for a total value of $706,392.64. Following the completion of the transaction, the director now directly owns 10,595 shares in the company, valued at $883,199.20. The trade was a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Daniel L. Florness sold 31,818 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total value of $2,688,621.00. Following the sale, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. The trade was a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,660 shares of company stock valued at $6,211,126 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in shares of Fastenal during the third quarter valued at $25,000. Knuff & Co LLC acquired a new position in Fastenal during the 3rd quarter valued at about $27,000. Moisand Fitzgerald Tamayo LLC grew its position in Fastenal by 1,019.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 470 shares of the company’s stock worth $34,000 after purchasing an additional 428 shares during the last quarter. First Personal Financial Services acquired a new stake in shares of Fastenal in the third quarter valued at approximately $36,000. Finally, CVA Family Office LLC raised its holdings in shares of Fastenal by 51.0% during the third quarter. CVA Family Office LLC now owns 533 shares of the company’s stock valued at $38,000 after buying an additional 180 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Fastenal Company Profile

(Get Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

Recommended Stories

Analyst Recommendations for Fastenal (NASDAQ:FAST)

Receive News & Ratings for Fastenal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastenal and related companies with MarketBeat.com's FREE daily email newsletter.