In yesterday’s Wall Street session, Fastenal Company (NASDAQ:FAST) shares traded at $57.86, up 0.99% from the previous session.
As of this writing, 17 analysts cover Fastenal Company (NASDAQ:FAST). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $61.30 and a low of $50.00, we find $56.00. Given the previous closing price of $57.29, this indicates a potential downside of -2.25 percent. FAST stock price is now 3.23% away from the 50-day moving average and 11.35% away from the 200-day moving average. The market capitalization of the company currently stands at $32.59B.
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There are 10 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $56.75 as their price target over the next twelve months.
With the price target maintained at $60, Stephens recently Downgraded its rating from Overweight to Equal-Weight for Fastenal Company (NASDAQ: FAST).
In other news, Ancius Michael J, Director bought 500 shares of the company’s stock on Jul 17. The stock was bought for $28,765 at an average price of $57.53. Upon completion of the transaction, the Director now directly owns 28,765 shares in the company, valued at $1.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13, CHIEF OPERATING OFFICER Owen Terry Modock sold 20,000 shares of the business’s stock. A total of $1,123,070 was realized by selling the stock at an average price of $56.15. This leaves the insider owning 7,000 shares of the company worth $0.41 million. Insiders disposed of 59,260 shares of company stock worth roughly $3.43 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FAST stock. A new stake in Fastenal Company shares was purchased by CEREDEX VALUE ADVISORS LLC during the first quarter worth $31,448,000. NZS CAPITAL, LLC invested $17,482,000 in shares of FAST during the first quarter. In the first quarter, SABAL TRUST CO acquired a new stake in Fastenal Company valued at approximately $14,787,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in FAST for approximately $11,220,000. TIKEHAU INVESTMENT MANAGEMENT purchased a new stake in FAST valued at around $8,882,000 in the second quarter. In total, there are 1,379 active investors with 79.30% ownership of the company’s stock.
Thursday morning saw Fastenal Company (NASDAQ: FAST) opened at $57.32. During the past 12 months, Fastenal Company has had a low of $43.73 and a high of $59.43. As of last week, the company has a debt-to-equity ratio of 0.12, a current ratio of 3.70, and a quick ratio of 1.70. According to the stock market information, the enterprise value for the company is $33.43B, which is based on a 29.52 price-to-earnings ratio, a 4.66 price-to-earnings-growth ratio, and a beta of 1.15. The fifty day moving average price for FAST is $56.12 and a two-hundred day moving average price translates $52.02 for the stock.
The latest earnings results from Fastenal Company (NASDAQ: FAST) was released for Jun, 2023. According to the Industrial Distribution Company, earnings per share came in at $0.52, missing analysts’ expectations of $0.53 by -0.01. This compares to $0.50 EPS in the same period last year. The net profit margin was 15.00% and return on equity was 34.00% for FAST. The company reported revenue of $1.88 billion for the quarter, compared to $1.78 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.88 percent. For the current quarter, analysts expect FAST to generate $1.85B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/24/2023. Investors who held shares on 07/27/2023 were paid a $0.35 dividend. On an annualized basis, this represents a $1.40 dividend and a 2.42% percent yield. There was an ex-dividend date of 07/26/2023 for this dividend. In terms of dividend payout ratio, FAST is presently at 65.50%.
Fastenal Company(FAST) Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, 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, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines. It also offers miscellaneous supplies and hardware, including pins, machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the manufacturing market comprising original equipment manufacturers; maintenance, repair, and operations customers; and non-residential construction market, which includes general, electrical, plumbing, sheet metal, and road contractors. It also serves farmers, truckers, railroads, mining companies, schools, and retail trades; and oil exploration, production, and refinement companies, as well as federal, state, and local governmental entities. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota.
