Raymond James Upgrades Rating On Fastenal Company (FAST) To "Strong Buy"

14 July, 2017, 04:42 | Author: Oscar Goodwin
  • Baird Upgrades Rating On Fastenal Company (FAST) To “Outperform”

Orca Investment Management Llc owns 299,774 shares or 2.43% of their U.S. portfolio. OLD Mutual Customised Solutions Proprietary Ltd.'s holdings in Fastenal Company were worth $461,000 at the end of the most recent quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Fastenal Company during the first quarter valued at about $191,000. Liberty Capital Management Inc. now owns 38,575 shares of the company's stock worth $1,987,000 after buying an additional 2,490 shares during the last quarter. Credit Suisse AG raised its position in shares of Fastenal Company by 0.3% in the first quarter.

Investors and Traders continue to monitor technical levels of shares of Fastenal Company (FAST). Parkside Financial Bank & Trust boosted its position in shares of Fastenal Company by 0.3% in the first quarter. Bares Capital Management Inc. now owns 3,239,905 shares of the company's stock valued at $166,855,000 after buying an additional 402,649 shares in the last quarter. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. FNY Managed Accounts LLC purchased a new position in shares of Fastenal Company during the first quarter worth about $133,000. Moreover, Hodges Capital Management Inc. has 2.42% invested in the company for 6.32 million shares.

Fastenal Company (NASDAQ:FAST) declared that its board has approved a share repurchase plan, which allows the company to repurchase 5,000,000 outstanding shares on Tuesday, July 11th, EventVestor reports. The company has market cap of $3.81 billion. Fastenal Company has a 1-year low of $37.70 and a 1-year high of $52.74. The stock has a 50-day moving average price of $43.41 and a 200 day moving average price of $47.58. Sterne Agee CRT initiated Fastenal Company (NASDAQ:FAST) on Tuesday, March 22 with "Neutral" rating. Stock investors acquired 8,210 put options on the stock. This represents an increase of approximately 753% compared to the typical volume of 962 put options.

The company reported earnings of $148.9 million, or $0.52 per share, an increase of 13.2 percent from last year's numbers.

On average, analysts expect that Fastenal Company will report full year earnings of $1.88 per share for the current financial year, with EPS estimates ranging from $1.83 to $1.95. It has a return on equity (ROE) of 26.40%. During the same period in the previous year, the firm earned $0.44 EPS.

Quarterly Revenue growth year over year is 6.2 Percent. Royal Comml Bank Of Canada invested in 1.38M shares or 0.04% of the stock. In a transaction dated April 24, 2017, the shares were bought at an average price of $45.28, giving away a sum of $15,848.

Fastenal Co (NASDAQ:FAST) shows a Forward Annual Dividend Rate of $1.22 and Trailing Annual Dividend Yield of 2.8% according to MorningStar Inc. Fastenal Company's payout ratio is 73.14%.

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A number of analysts have recently issued reports on FAST shares. Stifel Nicolaus maintained Fastenal Company (NASDAQ:FAST) rating on Wednesday, October 14. 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. Fastenal Company (FAST) received interesting focus from Active Investors and it has been trading on front line as comparing to it past average volume. Raymond James Financial, Inc. raised Fastenal Company from a market perform rating to a buy rating and set a $50.00 target price on the stock in a research report on Wednesday, April 19th. Analysts have a mean recommendation of 2.50 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).

As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Lawson Products, Inc. The shares were purchased at an average cost of $44.75 per share, with a total value of $223,750.00. Following the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $43,760. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The shares were purchased at an average price of $43.76 per share, for a total transaction of $43,760.00.

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