Fastenal (NASDAQ:FAST) Price Target Raised to $60.00

Fastenal (NASDAQ:FAST) had its target price lifted by Robert W. Baird from $59.00 to $60.00 in a report released on Thursday morning, Marketbeat reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research firms have also weighed in on FAST. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research note on Wednesday, July 15th. Rothschild & Co Redburn set a $55.00 target price on shares of Fastenal and gave the stock a “buy” rating in a research report on Monday, July 13th. Wolfe Research began coverage on shares of Fastenal in a research note on Tuesday, September 15th. They set an “underperform” rating and a $51.00 target price for the company. William Blair reissued an “outperform” rating on shares of Fastenal in a research report on Friday, September 4th. Finally, Morgan Stanley boosted their target price on Fastenal from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.83.

Fastenal Price Performance

Shares of FAST opened at $51.02 on Thursday. The business’s 50-day moving average is $50.35 and its 200-day moving average is $47.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.93 and a quick ratio of 2.21. The company has a market capitalization of $58.55 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 3.16 and a beta of 0.69. Fastenal has a fifty-two week low of $38.97 and a fifty-two week high of $52.92.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Wednesday, October 14th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Fastenal had a net margin of 15.62% and a return on equity of 35.13%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. Equities research analysts expect that Fastenal will post 1.27 EPS for the current fiscal year.

Fastenal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, October 28th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, October 28th. Fastenal’s dividend payout ratio (DPR) is presently 83.87%.

Insider Buying and Selling

In other news, Director Rita Heise sold 34,964 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $50.05, for a total transaction of $1,749,948.20. Following the transaction, the director owned 20,000 shares in the company, valued at $1,001,000. This represents a 63.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Ancius sold 3,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total transaction of $147,000.00. Following the transaction, the director owned 58,690 shares in the company, valued at approximately $2,875,810. This trade represents a 4.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Fastenal

Several institutional investors and hedge funds have recently modified their holdings of FAST. IFP Advisors Inc increased its position in Fastenal by 27.3% in the third quarter. IFP Advisors Inc now owns 47,983 shares of the company’s stock worth $2,377,000 after purchasing an additional 10,292 shares during the period. Frank Rimerman Advisors LLC raised its holdings in Fastenal by 0.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 42,700 shares of the company’s stock worth $2,115,000 after purchasing an additional 358 shares during the last quarter. USA Financial Formulas bought a new stake in Fastenal during the 3rd quarter worth about $55,000. Riverbend Wealth Management LLC acquired a new position in Fastenal during the 3rd quarter valued at about $200,000. Finally, Goldstein Advisors LLC lifted its position in Fastenal by 2.1% during the 3rd quarter. Goldstein Advisors LLC now owns 11,689 shares of the company’s stock valued at $579,000 after purchasing an additional 244 shares during the period. Institutional investors and hedge funds 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 results exceeded expectations: Revenue rose 15.5% year over year to $2.46 billion, while EPS increased to $0.35 from $0.29 and topped the $0.34 consensus estimate. Operating margin improved to 21.5%, reflecting better selling and administrative expense leverage. Fastenal Q3 Results Highlight Margin Power
• Positive Sentiment: Analysts raised price targets: Robert W. Baird increased its target from $59 to $60 and maintained an Outperform rating, implying additional upside based on the stock’s recent trading level. Other analysts also lifted forecasts following the earnings beat. Baird Raises Target for Fastenal
• Positive Sentiment: Growth initiatives remain constructive: Market-share gains, digital expansion and continued adoption of FASTBin and FASTVend vending systems support Fastenal’s longer-term growth outlook. Its dividend and capital-return profile also remains attractive to income-focused investors. FAST Q3 Deep Dive
• Negative Sentiment: Investors remain concerned about the quality and pace of growth: September sales reportedly missed expectations, gross margin declined to 44.8% from 45.3%, and Fastenal reduced its 2026 weighted device-signing target to 27,000–29,000 from 28,000–30,000. Analysts at DA Davidson maintained a Neutral view, while some estimates were cut after the report. Fastenal Analyst Cuts Estimates

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.