Wolfe Research upgraded shares of Fastenal (NASDAQ:FAST) from an underperform rating to a market perform rating in a research report report published on Tuesday, The Fly reports.

Several other analysts also recently weighed in on FAST. Zacks Investment Research upgraded shares of Fastenal from a hold rating to a buy rating and set a $61.00 target price for the company in a report on Friday, December 14th. ValuEngine downgraded shares of Fastenal from a buy rating to a hold rating in a research note on Wednesday, December 5th. BidaskClub downgraded shares of Fastenal from a hold rating to a sell rating in a research note on Friday, October 12th. Jefferies Financial Group began coverage on shares of Fastenal in a research note on Monday. They issued a hold rating and a $60.00 price target for the company. Finally, Longbow Research downgraded shares of Fastenal from a buy rating to a neutral rating in a research note on Tuesday, December 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. Fastenal has a consensus rating of Hold and a consensus target price of $56.77.

Fastenal stock traded up $0.45 during trading on Tuesday, hitting $54.93. The company had a trading volume of 972,128 shares, compared to its average volume of 2,463,934. Fastenal has a 1-year low of $47.37 and a 1-year high of $61.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.48 and a current ratio of 5.35. The company has a market capitalization of $15.47 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 1.21 and a beta of 1.11.

Fastenal (NASDAQ:FAST) last posted its earnings results on Wednesday, October 10th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Fastenal had a net margin of 15.25% and a return on equity of 32.29%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts forecast that Fastenal will post 2.6 earnings per share for the current year.

In related news, Director Michael John Dolan sold 5,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $900,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel L. Johnson purchased 965 shares of Fastenal stock in a transaction that occurred on Monday, October 22nd. The stock was bought at an average cost of $51.56 per share, with a total value of $49,755.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,295 shares of company stock valued at $117,844. Corporate insiders own 0.56% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Delta Asset Management LLC TN lifted its position in Fastenal by 3,540.7% in the third quarter. Delta Asset Management LLC TN now owns 3,131 shares of the company’s stock valued at $182,000 after acquiring an additional 3,045 shares during the last quarter. Canton Hathaway LLC purchased a new stake in Fastenal in the third quarter valued at $186,000. Meyer Handelman Co. purchased a new stake in Fastenal in the third quarter valued at $203,000. Legacy Capital Partners Inc. purchased a new stake in Fastenal in the fourth quarter valued at $208,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in shares of Fastenal in the third quarter valued at about $214,000. 85.04% of the stock is owned by hedge funds and other institutional investors.

About Fastenal

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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Analyst Recommendations for Fastenal (NASDAQ:FAST)

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