Fastenal (NASDAQ:FAST) had its target price decreased by analysts at Wells Fargo & Co from $35.00 to $30.00 in a research report issued on Friday, BenzingaRatingsTable reports. The firm currently has a “market perform” rating on the stock. Wells Fargo & Co‘s price target suggests a potential downside of 3.07% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Buckingham Research set a $31.00 price objective on Fastenal and gave the stock a “neutral” rating in a research report on Friday, June 14th. Raymond James reiterated a “hold” rating and set a $19.50 price objective on shares of in a research report on Friday. Morgan Stanley upgraded to an “overweight” rating and set a GBX 400 ($5.23) price objective on the stock in a research report on Friday. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, William Blair reiterated a “market perform” rating on shares of Luminex in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $31.31.

FAST stock opened at $30.95 on Friday. The company has a quick ratio of 1.97, a current ratio of 4.68 and a debt-to-equity ratio of 0.25. The company has a market cap of $17.38 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 1.35 and a beta of 1.25. The stock’s fifty day moving average price is $31.78. Fastenal has a fifty-two week low of $24.00 and a fifty-two week high of $35.94.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings data on Thursday, July 11th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Fastenal had a return on equity of 32.27% and a net margin of 14.74%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. Equities research analysts expect that Fastenal will post 1.41 earnings per share for the current fiscal year.

In other news, CAO Sheryl Ann Lisowski sold 9,166 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $64.22, for a total transaction of $588,640.52. Following the sale, the chief accounting officer now directly owns 9,466 shares of the company’s stock, valued at approximately $607,906.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel L. Florness sold 20,000 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $70.75, for a total value of $1,415,000.00. Following the sale, the chief executive officer now directly owns 109,845 shares in the company, valued at $7,771,533.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,470 shares of company stock worth $11,485,007. 0.56% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Fastenal by 1.8% during the 1st quarter. BlackRock Inc. now owns 20,274,336 shares of the company’s stock worth $1,303,845,000 after purchasing an additional 354,493 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Fastenal by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,165,575 shares of the company’s stock worth $217,478,000 after purchasing an additional 225,481 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Fastenal by 1.8% during the 1st quarter. Northern Trust Corp now owns 3,726,840 shares of the company’s stock worth $239,673,000 after purchasing an additional 65,952 shares in the last quarter. Riverbridge Partners LLC grew its holdings in shares of Fastenal by 91.0% during the 2nd quarter. Riverbridge Partners LLC now owns 3,053,420 shares of the company’s stock worth $99,511,000 after purchasing an additional 1,454,579 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Fastenal during the 4th quarter worth $135,756,000. 85.36% of the stock is currently owned by 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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