Morgan Stanley Reiterates "Equal Weight" Rating for Fastenal Company


The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The institutional investor owned 106,325 shares of the company's stock after buying an additional 2,425 shares during the period.

A number of research firms have commented on FAST. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.11 billion. The Return on Equity (ROE) value stands at 26.4%.

The firm is a distributor between businesses and it saw sales rise 10.6% in the three months, compared to the same period a year ago. During the same period past year, the business posted $0.46 earnings per share. Credit Suisse Group raised shares of Fastenal Company from a "neutral" rating to an "outperform" rating and set a $55.00 price target on the stock in a report on Wednesday, April 19th.

In analysts report made public on Thursday morning, Raymond James announced that they have chose to upgrade shares of Fastenal (NASDAQ:FAST) stock from a Outperform to a Strong Buy. Ironwood Investment Management LLC now owns 6,359 shares of the company's stock valued at $327,000 after buying an additional 75 shares in the last quarter. Lewis Holden also bought $43,760 worth of Fastenal Company (NASDAQ:FAST) on Thursday, May 25. The stock of Fastenal Company (NASDAQ:FAST) has "Hold" rating given on Friday, October 14 by Argus Research.

Fastenal Company (NASDAQ:FAST)'s stock had its "equal weight" rating reissued by research analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday. The stock now has an average rating of "Hold" and an average price target of $49.83. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. & worldwide trademark and copyright legislation. The correct version of this piece of content can be read at (NASDAQ:LAWS) was down -2.05% during the last trading session, with a day high of 22.10.

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Stock price volatility is an indicator that is most often used by options traders to find changes in trends in the market place. The Company has 52-week high of $52.74 and 52-week low of $37.70. The firm has a market cap of $12.49 billion, a PE ratio of 24.67 and a beta of 0.99.

It is trading at $42.72 slightly below $43.41, the 50 day moving average and barely below the 200 day moving average of $47.58. The shares were purchased at an average price of $44.75 per share, for a total transaction of $223,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The shares were purchased at an average cost of $43.76 per share, for a total transaction of $43,760.00. Following the transaction, the chief financial officer now 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 bought 6,700 shares of company stock valued at $299,343. The average analysts gave this company a mean recommendation of 2.00. It fall, as 31 investors sold WPX Energy Inc shares while 111 reduced holdings.

Microsoft Corporation (NASDAQ:MSFT) ended its day at $71.15 with the rising stream of 1.66% and its total traded volume was 17.75 million shares less than the average volume. BlackRock Inc. now owns 17,459,557 shares of the company's stock worth $899,168,000 after buying an additional 16,925,319 shares in the last quarter. First Allied Advisory Services holds 8,590 shares.

Price/Earnings to growth ratio for the company is 2.88 and the stock shows its Price/Sales (ttm) of 3.07 and Price/Book for the most recent quarter of 6.24. Clearbridge Investments LLC increased its position in shares of Fastenal Company by 417.7% in the first quarter. The shares price has directed -2.44% toward a lower level throughout a year ago and swapped -2.89% toward a weak spot during past one month.

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. The Company's customers operate in a range of industries, including automotive fix, commercial vehicle maintenance, government, manufacturing, food processing, distribution, construction, oil and gas, mining, wholesale and service.