Credit Suisse Maintains Fastenal Company to Neutral with Price Target $44.00

Brokerage firm Credit Suisse Maintains its rating on Fastenal Company(NASDAQ:FAST). In a research note issued to the investors, the brokerage major Raises the price-target to $44.00 per share. The shares have been rated Neutral. The rating by Credit Suisse was issued on Apr 14, 2016.

In a different note, On Apr 1, 2016, Stifel Nicolaus said it Downgrades its rating on Fastenal Company. The shares have been rated ‘Hold’ by the firm. Sterne Agee CRT said it Initiates Coverage on Fastenal Company, according to a research note issued on Mar 22, 2016. The shares have been rated ‘Neutral’ by the firm. On Mar 21, 2016, Avondale Partners said it Maintains its rating on Fastenal Company. In the research note, the firm Raises the price-target to $38.00 per share. The shares have been rated ‘Market Perform’ by the firm. On Mar 17, 2016, Stifel Nicolaus said it Maintains its rating on Fastenal Company. In the research note, the firm Raises the price-target to $49.00 per share. The shares have been rated ‘Buy’ by the firm. Argus Research said it Initiates Coverage on Fastenal Company, according to a research note issued on Mar 8, 2016. The shares have been rated ‘Buy’ by the firm. On Jan 19, 2016, Barclays said it Maintains its rating on Fastenal Company. According to the research note, Barclays Raises the price target to $29 per share from a prior target of $27. The shares have been rated ‘Underweight’ by the firm.

Fastenal Company (FAST) shares turned negative on Mondays trading session with the shares closing down -0.08 points or -0.17% at a volume of 20,51,286. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $46.06. The peak price level was also seen at $46.06 while the days lowest was $45.52. Finally the shares closed at $45.73. The 52-week high of the shares is $49.99 while the 52-week low is $34.45. According to the latest information available, the market cap of the company is $13,211 M.

Fastenal Company(FAST) last announced its earnings results on Jan 15, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $922.79M. Analysts had an estimated revenue of $922.03M. Earnings per share were $0.39. Analysts had estimated an EPS of $0.4.

Several Insider Transactions has been reported to the SEC. On Mar 3, 2016, Sheryl Ann Lisowski (Interim CFO/CAO/Controller) sold 5,000 shares at $46.69 per share price.Also, On Mar 3, 2016, James C Jansen (Executive Vice President) sold 25,000 shares at $46.50 per share price.On Mar 1, 2016, Daniel L Florness (CEO and President) sold 80,000 shares at $45.17 per share price, according to the Form-4 filing with the securities and exchange commission.

Fastenal Company sells industrial and construction supplies to end-users (business-to-business) and also has some walk-in retail business. The Company’s product offerings include fasteners and other industrial and construction supplies many of which are sold under the Fastenal product name. The Company’s product line which it refers to as the fastener product line consists of two categories: threaded fasteners such as bolts nuts screws studs and related washers and miscellaneous supplies and hardware such as various pins and machinery keys concrete anchors metal framing systems wire rope strut rivets and related accessories. The Company’s product line includes fasteners cutting tools tools hydraulics and pneumatics material handling janitorial supplies electrical supplies welding supplies safety supplies metals direct ship and office supplies. It operates approximately 14 distribution centers in North America.

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