According to Bloomberg.com, all eight research analysts who follow Fastenal (NASDAQ: FAST) have provided the stock with a rating of “Hold,” representing the group’s general agreement regarding the stock’s future direction. In addition, the stock has been given eight recommendations to remain unchanged, one recommendation to buy, and one recommendation to sell from the point of view of investment analysts. $51.86 is the average one-year target price listed by brokerages that have altered their coverage in the previous year.
Regarding FAST, a significant number of analyst reports have been prepared. Jefferies Financial Group reaffirmed a “hold” rating on shares of Fastenal and set a target price of $50.00 for the company’s stock in a research note published on Monday, October 17. Jefferies Financial Group also set a price objective of $50.00 for the stock. The research analysts at Robert W. Baird have revised their recommendation for Fastenal, changing it from “outperform” to “neutral,” and their new price target is $48.01 per share. The study note was made available to the general public on Thursday, July 14. The recommendation for Fastenal was changed from “buy” to “hold” in a research note released by StockNews.com on October 15. The note was published on Saturday. The price objective for Fastenal was reduced from $60.00 to $55.00 in a research note released by Argus on Friday, July 15. The company has also given the shares of the company a “buy” rating. Last but not least, in a research note published on Thursday, July 14, the UBS Group lowered their price objective for Fastenal from $62 to $50 and downgraded the company’s rating from “neutral” to “underweight.”
VP On Monday, August 15, Charles S. Miller sold 23,136 of Fastenal stock, according to additional information provided by the company. Because each share was sold at an average price of $55.90, the total sale volume came to $1,293,302.40. As a result of the transaction, the company’s vice president now owns 7,500 shares of the company’s stock, which, based on the current price of the stock, is approximately equivalent to $419,250. Should you follow this link, you will be taken to the SEC filing in which the transaction was discussed in greater detail. In other news about Fastenal, Director Stephen L. Eastman purchased 1,000 shares of the company’s stock on Friday, October 14. This was reported as an occurrence in the news. The number of shares was acquired for a total cost of $43,880.00, which works out to an average price of $43.88 per share. As soon as the deal is finalized, the director will become the direct owner of 10,000 shares of the company. Considering their aggregate value, these shares are worth $438,800 in total. When you follow this link, you will be taken to the SEC filing that contains more information about the acquisition. In addition, 23,136 shares of the company’s stock were sold by Charles S. Miller on Monday, August 15. The total value of the stock sold was $1,293,302.40, and the price received for each share, on average, was $55.90. Therefore, the vice president now owns 7,500 shares of company stock, which have a combined value of $419,250 as a direct consequence of the transaction that took place earlier. The disclosure about the purchase can be found in this particular location. Insiders of the company made purchases amounting to a total of 306,425 shares of stock during the most recent fiscal period, which ended a year ago. Internal employees of the company hold 0.40% of the total shares outstanding in the company.
As a result of recent happenings, several large investors have altered the proportion of the company’s stock they currently hold in their portfolios. During the second quarter, the holdings of Fastenal that Massmutual Trust Co. FSB ADV owned were increased by 78.0 percent. The most recent quarter saw Massmutual Trust Co. FSB ADV acquire an additional 224 shares. This brings the total number of shares directly owned in the company to 511, with an associated value of $26,000. A brand new investment for $31,000 in Fastenal by GHP Investment Advisors, Inc. during the first three months of 2018. The O Dell Group LLC invested approximately $32,000 in new stock in Fastenal during the first three months of 2018. During the first three months of this year, Allworth Financial LP invested close to $41,000 in acquiring additional stock in Fastenal. During the second quarter, TCI Wealth Advisors Inc. increased the amount of Fastenal stock held by 53%, making this the last and most important point. After making a new purchase of 331 shares during the most recent quarter, TCI Wealth Advisors Inc. now has 956 shares. The current value of these shares is $48,000. TCI Wealth Advisors Inc. At present, institutions hold ownership of 78.18% of the total shares of stock that are outstanding.
On Friday, the share price of NASDAQ: FAST was $47.05 when trading got underway. The current ratio to quick ratio is 1.89, while the current ratio to quick ratio is 3.98. The ratio of debt to equity is 0.13. Fastenal has seen a low point over the past 52 weeks of $43.73, while the company has seen a high point over the past 52 weeks of $64.75. The stock price has reached $48.51; its fifty-day simple moving average has reached $51.09; its 200-day simple moving average has reached $51.09. The company has a price-to-earnings ratio of 25.16, and the price-to-earnings ratio relative to growth is 2.78. The beta value for the company is 1.20. It currently has a value of $26.95 billion on the market.
On Thursday, October 13, the most recent quarterly earnings report for Fastenal, which is traded on the NASDAQ under the symbol “FAST,” was made public. The company came in with earnings per share (EPS) of $0.50 for the quarter, which was $0.02 higher than the estimate floating around among investors, which was $0.48 per share. The return on equity for the company was 34.25 percent, and its net margin was 15.73 percent. The revenue for the company came in at $1.80 billion for the quarter, which is significantly higher than the average prediction of $1.78 billion, which financial analysts made. In the prior year, the company posted earnings of $0.42 per share during the same period. Compared to the previous year, the increase in the company’s revenue was 16.0% higher. According to the projections made by financial experts who specialize in researching stocks and shares, Fastenal will generate earnings of $1.87 per share during the current financial year.
Fastenal announced on Tuesday, July 12, that its Board of Directors has approved a stock repurchase program that will allow the company to repurchase up to 8,000,000 outstanding shares. This will allow the company to reduce its total number of outstanding shares. Because of this, the company will be able to realize its full earnings potential. In addition, the company now has the legal authority to purchase shares of its stock on the open market as a result of the repurchase authorization, which was previously discussed. When a company has a program to repurchase its shares, it is typically an indication that the board of directors believes that the price at which the company’s stock is trading is lower than the stock’s actual value.