Fastenal (NASDAQ:FAST) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other analysts have also recently issued reports on FAST. BidaskClub cut shares of Fastenal from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Wolfe Research initiated coverage on shares of Fastenal in a report on Wednesday, June 27th. They issued an “underperform” rating on the stock. Robert W. Baird cut shares of Fastenal from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 3rd. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Tuesday, July 3rd. Finally, BMO Capital Markets cut their price target on shares of Fastenal from $57.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, July 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Fastenal presently has a consensus rating of “Hold” and an average price target of $57.11.

Shares of FAST stock traded down $0.30 on Wednesday, hitting $52.65. The stock had a trading volume of 2,102,900 shares, compared to its average volume of 2,877,744. The company has a market capitalization of $16.65 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92. The company has a current ratio of 5.62, a quick ratio of 2.57 and a debt-to-equity ratio of 0.19. Fastenal has a 52-week low of $45.96 and a 52-week high of $61.14.

Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, October 10th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Fastenal had a net margin of 14.57% and a return on equity of 30.82%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. Equities research analysts predict that Fastenal will post 2.56 EPS for the current year.

In other Fastenal news, CEO Daniel L. Florness bought 2,000 shares of the company’s stock in a transaction on Friday, October 12th. The shares were bought at an average cost of $51.95 per share, with a total value of $103,900.00. Following the completion of the acquisition, the chief executive officer now owns 99,845 shares of the company’s stock, valued at $5,186,947.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terry Modock Owen bought 1,500 shares of the company’s stock in a transaction on Friday, October 12th. The shares were acquired at an average cost of $52.07 per share, for a total transaction of $78,105.00. Following the completion of the acquisition, the insider now directly owns 3,500 shares of the company’s stock, valued at approximately $182,245. The disclosure for this purchase can be found here. Insiders purchased 4,000 shares of company stock worth $208,145 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. CIBC World Markets Inc. raised its holdings in shares of Fastenal by 5.6% during the second quarter. CIBC World Markets Inc. now owns 17,952 shares of the company’s stock worth $864,000 after purchasing an additional 960 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Fastenal by 2.3% during the second quarter. Raymond James Trust N.A. now owns 42,630 shares of the company’s stock worth $2,052,000 after purchasing an additional 968 shares during the period. Bradley Foster & Sargent Inc. CT raised its holdings in shares of Fastenal by 1.9% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 51,169 shares of the company’s stock worth $2,463,000 after purchasing an additional 975 shares during the period. Boston Research & Management Inc. raised its holdings in shares of Fastenal by 1.4% during the second quarter. Boston Research & Management Inc. now owns 75,678 shares of the company’s stock worth $3,642,000 after purchasing an additional 1,010 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Fastenal by 2.4% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 43,640 shares of the company’s stock worth $2,100,000 after purchasing an additional 1,036 shares during the period. 85.85% of the stock is currently owned by institutional investors.

Fastenal Company Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as 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.

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