Monday, 25 September, 2017

Fastenal Company (NASDAQ:FAST) Upgraded to "Outperform" at Robert W. Baird

Fastenal Company shares surge as growth returns Fastenal has a spring back in its step it seems
Frank Williams | 14 July, 2017, 04:44

The lowest target is $8.5 while the high is $11.0.

Several other equities research analysts also recently issued reports on the stock. Morgan Stanley restated an "equal weight" rating and set a $46.00 price objective (down from $50.00) on shares of Fastenal Company in a research report on Monday, June 12th. The firm has "Outperform" rating by Credit Suisse given on Wednesday, April 19. Argus raised shares of Fastenal Company from a "hold" rating to a "buy" rating and set a $54.00 price target on the stock in a report on Tuesday, April 18th. HighPoint Advisor Group LLC now owns 23,322 shares of the company's stock worth $1,189,000 after buying an additional 7,042 shares during the period. The stock of Fastenal Company (NASDAQ:FAST) has "Buy" rating given on Friday, June 2 by Stephens. Aberdeen Asset Mgmt Public Ltd Co Uk reported 0.01% of its portfolio in Fastenal Company (NASDAQ:FAST). (NASDAQ:COMM) stock is experiencing unusual volume during today's trading. The Beta for the stock stands at 0.98. The firm has a 50 day moving average price of $43.41 and a 200 day moving average price of $47.58.

Fastenal Company (NASDAQ:FAST) enjoyed a 13.32% run-up in share price since hitting record low of $37.7. Fastenal Company also was the target of unusually large options trading on Tuesday. Traders acquired 8,210 put options on the stock. This represents an increase of 753% compared to the typical volume of 962 put options. Fastenal Company (NASDAQ:FAST) has declined 2.09% since July 13, 2016 and is downtrending. Presently, it has a Return on Equity (ROE) of 26.40% and Return on Investment (ROI) of 21.80%. During the same period in the prior year, the company posted $0.46 EPS. Year-to-date, Fastenal has closed 57 branches and converted another five, while it has only opened 10. Company fiscal year is ending in December and analysts' consensus recommendation is Outperform for P and estimated EPS for next quarter is $ -0.07. Royal Comml Bank Of Canada invested in 1.38M shares or 0.04% of the stock. This represents a $1.28 annualized dividend and a yield of 2.97%. Fastenal Company P/E (price to earnings) ratio is 24.71 and Forward P/E ratio of 21.23. If you are viewing this news story on another website, it was stolen and reposted in violation of United States & worldwide trademark & copyright law. The correct version of this report can be viewed at https://www.thestockobserver.com/2017/07/13/fastenal-company-nasdaqfast-to-buyback-5000000-shares.html. The stock of Fastenal Company (NASDAQ:FAST) earned "Outperform" rating by William Blair on Monday, December 5. The shares were purchased at an average cost of $44.75 per share, with a total value of $223,750.00.

In other Fastenal Company news, CFO Holden Lewis bought 1,000 shares of Fastenal Company stock in a transaction dated Thursday, May 25th. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Following the acquisition, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $43,760. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 6,700 shares of company stock worth $299,343.

Gymboree store to close in Amarillo's Westgate Mall
The Gymboree in Lubbock's South Plains Mall will close as well, though the mall's insane 8 store will remain open. It also owns the Janie and Jack and insane 8 brands, and has more than 11,000 employees, according to a filing.

Total cash per share on the most recent quarter is 0.46.

Institutional investors have recently modified their holdings of the stock. Waddell & Reed Financial Inc. boosted its stake in Fastenal Company by 2.6% in the first quarter. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Parkside Financial Bank & Trust now owns 2,937 shares of the company's stock worth $152,000 after buying an additional 9 shares during the last quarter. Cleararc Capital Inc. increased its position in shares of Fastenal Company by 1.3% in the first quarter. Ameritas Investment Partners Inc. now owns 12,110 shares of the company's stock valued at $624,000 after buying an additional 104 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of Fastenal Company by 6.1% in the first quarter. Finally, Hengehold Capital Management LLC purchased a new position in shares of Fastenal Company during the first quarter worth about $203,000.

Winona, MN-based Fastenal - No. 10 on Industrial Distribution's Big 50 List - reported its 2017 second quarter results on Wednesday, highlighted by continued considerable growth figures across the board.

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