Fastenal (NASDAQ: FAST) recently received a number of ratings updates from brokerages and research firms:

  • 8/4/2017 – Fastenal had its “buy” rating reaffirmed by analysts at Northcoast Research.
  • 8/3/2017 – Fastenal was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $48.00 price target on the stock. According to Zacks, “Fastenal reported a stellar second quarter with earnings and revenues beating the consensus mark. Earnings grew 13.4% and sales rose 10.6% year over year driven by higher units sales on improvement in underlying market demand and growth in industrial vending business and existing Onsite locations. After a soft 2013, vending trends improved through 2014, 2015 and 2016 as management’s efforts to enhance the quality of signings/installs paid off. As of Jun 30, 2017, Fastenal operated 66,577 vending machines, up 14.1% year over year. Gross margin rose 30 bps in the quarter due to improvement in supply chain initiatives, increased discipline in purchasing and efficient utilization of fleet. Meanwhile, in spite of the improvement in gross margin in the quarter, changes in product and customer mix continued to affect gross profit, as did the addition of Mansco.”
  • 8/2/2017 – Fastenal was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/31/2017 – Fastenal was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fastenal reported a stellar second quarter with earnings and revenues beating the consensus mark. Earnings grew 13.4% and sales rose 1% year over year driven by higher units on improvement in underlying market demand and growth in industrial vending business and existing Onsite locations. After a soft 2013, vending trends improved through 2014, 2015 and 2016 as management’s efforts to enhance the quality of signings/installs paid off. As of Jun 30, 2017, Fastenal operated 66,577 vending machines, up 14.1% year over year. Gross margin rose 30 bps in the quarter due to improvement in supply chain initiatives, increased discipline in purchasing and efficient utilization of fleet. Meanwhile, in spite of the improvement in gross margin in the quarter, changes in product and customer mix continued to affect gross profit, as did the addition of Mansco.”
  • 7/25/2017 – Fastenal is now covered by analysts at Northcoast Research. They set a “buy” rating and a $54.00 price target on the stock.
  • 7/14/2017 – Fastenal had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $46.00 price target on the stock, up previously from $45.00.
  • 7/14/2017 – Fastenal had its price target raised by analysts at BMO Capital Markets from $49.00 to $51.00. They now have a “no rating at time” rating on the stock.
  • 7/13/2017 – Fastenal had its “buy” rating reaffirmed by analysts at Credit Suisse Group. They now have a $52.00 price target on the stock.
  • 7/13/2017 – Fastenal was upgraded by analysts at Raymond James Financial, Inc. from an “outperform” rating to a “strong-buy” rating. They now have a $50.00 price target on the stock.
  • 7/13/2017 – Fastenal was upgraded by analysts at UBS AG from an “outperform” rating to a “strong-buy” rating.
  • 7/12/2017 – Fastenal was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $53.00 price target on the stock.
  • 7/12/2017 – Fastenal had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $47.00 price target on the stock, down previously from $51.00.
  • 7/11/2017 – Fastenal had its “equal weight” rating reaffirmed by analysts at Morgan Stanley.
  • 7/5/2017 – Fastenal was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 6/26/2017 – Fastenal had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $43.00 price target on the stock, down previously from $46.00.
  • 6/23/2017 – Fastenal was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/14/2017 – Fastenal was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fastenal is boosting sales performance at stores through additional sales support and vending machine installations. The company’s cost-saving initiative, Pathway-to-Profit, also bodes well. After a soft 2013, vending trends improved through 2014, 2015 and 2016 as management’s efforts to enhance the quality of signings/installs paid off. The company plans to continue opening stores in 2017 to sustain and improve its network and drive growth. Though, shares of Fastenal lost 7.6% year to date, estimates for the current year has been trending north in the past 60 days. However, the company’s margins continue to remain under pressure.”
  • 6/13/2017 – Fastenal was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 6/13/2017 – Fastenal was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $49.00 price target on the stock. According to Zacks, “Fastenal is boosting sales performance at stores through additional sales support and vending machine installations. The company’s cost-saving initiative, Pathway-to-Profit, also bodes well. After a soft 2013, vending trends improved through 2014, 2015 and 2016 as management’s efforts to enhance the quality of signings/installs paid off. The company plans to continue opening stores in 2017 to sustain and improve its network and drive growth. Though, shares of Fastenal lost over 6% year to date, estimates for the current year has been trending north in the past 60 days. However, the company’s margins continue to remain under pressure.”
  • 6/12/2017 – Fastenal had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $46.00 price target on the stock, down previously from $50.00.

Shares of Fastenal Company (NASDAQ FAST) traded down 1.72% during mid-day trading on Thursday, hitting $42.36. The stock had a trading volume of 1,943,738 shares. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 23.31 and a beta of 0.98. Fastenal Company has a one year low of $37.70 and a one year high of $52.74. The firm has a 50 day moving average of $43.15 and a 200 day moving average of $46.62.

Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, July 12th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. Fastenal had a net margin of 12.71% and a return on equity of 26.86%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. Fastenal’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that Fastenal Company will post $1.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, July 26th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, July 24th. Fastenal’s dividend payout ratio (DPR) is currently 70.33%.

In related news, CFO Holden Lewis acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was purchased at an average price of $43.76 per share, for a total transaction of $43,760.00. Following the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $43,760. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel L. Johnson acquired 600 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average price of $42.71 per share, with a total value of $25,626.00. The disclosure for this purchase can be found here. Insiders bought 3,600 shares of company stock valued at $154,256 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

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.

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