Buckingham Research Analysts Give Fastenal (FAST) a $51.00 Price Target

Buckingham Research set a $51.00 price target on Fastenal (NASDAQ:FAST) in a report published on Friday. The firm currently has a hold rating on the stock.

Several other research firms also recently issued reports on FAST. Longbow Research upgraded Fastenal from a neutral rating to a buy rating and set a $63.00 price target for the company in a research note on Tuesday, December 4th. They noted that the move was a valuation call. BidaskClub upgraded Fastenal from a hold rating to a buy rating in a research note on Saturday, November 17th. Zacks Investment Research downgraded Fastenal from a buy rating to a hold rating in a research note on Tuesday, November 13th. Wells Fargo & Co set a $50.00 price target on Fastenal and gave the stock a hold rating in a research note on Thursday, October 11th. Finally, Wolfe Research upgraded Fastenal from an underperform rating to a market perform rating in a research note on Tuesday, January 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $56.85.

FAST opened at $54.84 on Friday. The stock has a market cap of $15.47 billion, a PE ratio of 28.41, a P/E/G ratio of 1.21 and a beta of 1.11. Fastenal has a 52-week low of $47.37 and a 52-week high of $61.14. The company has a quick ratio of 2.48, a current ratio of 5.35 and a debt-to-equity ratio of 0.17.

In other Fastenal news, insider William Joseph Drazkowski acquired 830 shares of the business’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was acquired at an average price of $50.54 per share, with a total value of $41,948.20. Following the transaction, the insider now owns 2,790 shares of the company’s stock, valued at $141,006.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Holden Lewis acquired 500 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The shares were acquired at an average cost of $52.28 per share, with a total value of $26,140.00. Following the transaction, the chief financial officer now directly owns 3,500 shares in the company, valued at approximately $182,980. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,295 shares of company stock valued at $117,844 in the last three months. 0.56% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Fastenal by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after acquiring an additional 311,099 shares in the last quarter. Vanguard Group Inc raised its holdings in Fastenal by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 32,459,382 shares of the company’s stock valued at $1,883,293,000 after acquiring an additional 311,099 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Fastenal by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 14,725,234 shares of the company’s stock valued at $854,358,000 after acquiring an additional 158,261 shares in the last quarter. Route One Investment Company L.P. raised its holdings in Fastenal by 1.6% in the 3rd quarter. Route One Investment Company L.P. now owns 7,848,280 shares of the company’s stock valued at $455,357,000 after acquiring an additional 125,000 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Fastenal by 3.3% in the 2nd quarter. Northern Trust Corp now owns 3,437,593 shares of the company’s stock valued at $165,451,000 after acquiring an additional 108,486 shares in the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

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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