Fastenal (NASDAQ:FAST) Stock Price Target Raised at Robert W. Baird

Fastenal (NASDAQ:FAST) had its price target boosted by equities researchers at Robert W. Baird from $59.00 to $60.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 15.38% from the stock’s previous close.

A number of other brokerages have also recently commented on FAST. William Blair reaffirmed an “outperform” rating on shares of Fastenal in a research report on Friday, September 4th. Morgan Stanley increased their price target on Fastenal from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. DA Davidson set a $51.00 price objective on Fastenal in a report on Tuesday. Weiss Ratings raised Fastenal from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Fastenal in a research note on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Fastenal has an average rating of “Hold” and a consensus target price of $50.42.

Fastenal Price Performance

Fastenal stock opened at $52.00 on Thursday. Fastenal has a 12 month low of $38.97 and a 12 month high of $52.92. The company has a current ratio of 4.18, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $50.37 and its 200 day simple moving average is $47.46. The company has a market cap of $59.67 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 3.19 and a beta of 0.69.

Fastenal (NASDAQ:FAST) last announced its quarterly earnings data on Wednesday, October 14th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Fastenal had a return on equity of 34.03% and a net margin of 15.45%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the company earned $0.29 earnings per share. Fastenal’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts forecast that Fastenal will post 1.26 EPS for the current year.

Insider Activity

In related news, Director Rita Heise sold 34,964 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the completion of the sale, the director owned 20,000 shares in the company, valued at $1,001,000. The trade was a 63.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Ancius sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the sale, the director directly owned 58,690 shares of the company’s stock, valued at approximately $2,875,810. This represents a 4.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fastenal

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Fastenal in the second quarter worth about $5,105,454,000. Bank of New York Mellon Corp bought a new stake in shares of Fastenal in the 2nd quarter valued at about $859,310,000. Legal & General Group Plc purchased a new stake in Fastenal during the 2nd quarter valued at about $410,919,000. Deutsche Bank AG bought a new position in Fastenal during the 2nd quarter worth approximately $239,279,000. Finally, Hsbc Holdings PLC bought a new position in Fastenal during the 2nd quarter worth approximately $230,169,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Key Stories Impacting Fastenal

Here are the key news stories impacting Fastenal this week:

• Positive Sentiment: Q3 earnings exceeded expectations: Fastenal reported adjusted earnings of $0.35 per share versus the $0.34 consensus estimate. Revenue rose 15.5% year over year to $2.46 billion, slightly above expectations, while net income increased 20% to $401.6 million. Fastenal Company Reports 2026 Third Quarter Earnings
• Positive Sentiment: Growth with major customers remains strong: Management cited manufacturing demand, larger-customer wins and continued adoption of Onsite, digital and supply-chain solutions. Expense leverage also helped support profit growth and margins. Fastenal quarterly profit rises 20%
• Positive Sentiment: Shareholder returns remain supportive: Fastenal declared a quarterly dividend of $0.26 per share, or $1.04 annualized, representing an approximately 2% yield. Jefferies also raised its price target from $52 to $60, reflecting confidence in the company’s growth outlook. Jefferies raises Fastenal stock target
• Neutral Sentiment: Investors are balancing growth against valuation: FAST trades near its 52-week high at roughly 43.6 times earnings, leaving limited room for disappointment despite strong operating momentum. Fastenal: I See No Reason To Pay A Higher Premium
• Negative Sentiment: Higher spending and device-signing concerns weigh on the outlook: Management expects 27,000 to 29,000 weighted device signings in 2026, and reports characterized the target as a reduction that could slow future growth. Investors are also concerned that increased spending may pressure margins. Fastenal dips on heavier spending expectations

Fastenal Company Profile

Fastenal Company is a distributor of industrial and construction supplies serving businesses, contractors, manufacturers and other organizations. Its product offerings include fasteners such as bolts, nuts and screws, as well as safety equipment, tools, cutting tools, material-handling products, electrical and plumbing supplies, and maintenance and repair items.

The company sells products through a network of branch locations, onsite customer facilities, industrial vending machines and digital platforms.