Fastenal Company (NASDAQ:FAST).
Equity analyst JP Morgan began coverage by announcing an initial rating of “Neutral”. On June 2 the company was upgraded to “Neutral” from “” with a current price target of $46.00 by analysts at Longbow Research.
On December 5, 2016 the stock rating was changed to a “Outperform” in a report from William Blair up from the previous “” rating. On August 25, 2016 Macquarie started covering the stock with an initial rating of “Neutral”.
April 14 investment analysts at Credit Suisse left the company rating at “Neutral” and raised the price expectation from $37.00 to $44.00.
The company is down from yesterday’s close of $43.59. Fastenal Company recently declared a dividend paid on Wednesday the 24th of May 2017. The dividend payment was $0.320 per share for the quarter which comes to $1.28 on an annualized basis. This dividend represents a yeild of $2.92 which is the dividend as a percentage of the current share price. The ex-dividend date was set for Monday the 24th of April 2017.
Company shares last traded at $42.34 which is just a bit below the 50 day moving average which is $43.41 and which is marginally lower than the 200 day moving average of $47.58. The 50 day moving average was down $-1.40 and the 200 day average moved down $-5.57.
Fastenal Company, launched on December 24, 1968, is involved in wholesale distribution of industrial and construction supplies. The Company is involved in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 company-owned stores. Most of its customers are in the manufacturing and non-residential construction markets. The manufacturing market includes both original equipment manufacturers (OEM) and maintenance, repair, and operations (MRO). The non-residential construction market includes general, electrical, plumbing, sheet metal and road contractors. Other users of its products include farmers, truckers, railroads, oil exploration, production and refinement companies, mining companies, federal, state, and local governmental entities, schools and certain retail trades. Geographically, its stores and customers are primarily located in North America..
The P/E ratio is currently 24.01 and the market cap of the company is 12.15B. In the latest earnings report the EPS was $1.75 and is estimated to be $1.88 for the current year with 289,263,000 shares currently outstanding. Next quarter’s EPS is forecasted at $0.48 with next year’s EPS anticipated to be $2.05.
Traders are more bullish on the company recently considering the change in short interest. The firm saw a fall in short interest of -3.78% as of May 15, 2017 from the last reporting period. Short shares decreased 873,041 over that period. Days to cover decreased from 8.4 to 7.2 and the percentage of shorted shares was 0.08% on May 15.