Fastenal Company (FAST): Price Target and June Short Interest Disclosure

Fastenal Company (FAST) : Currently there are 7 street experts covering Fastenal Company (FAST) stock. The most bullish and bearish price target for the stock is $51 and $36 respectively for the short term. The average price target of all the analysts comes to $45.57. The estimated standard deviation from the target is $5.65.

Fastenal Company (FAST), A drop of 374,341 shares or 1.1% was seen in the short interest of Fastenal Company. Even as the interest dropped from 33,399,742 shares on June 15,2016 to 33,025,401 shares on June 30,2016, the days to cover came in at 13. The updated interest stood at 11.5% of the stocks floats. The stock has seen an average daily volume of 2,605,251 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Morgan Stanley initiates coverage on Fastenal Company (NASDAQ:FAST) . The global brokerage major announces a current price target of $46 per share. Analysts at the Morgan Stanley have a current rating of Equal-weight on the shares. The rating by the firm was issued on July 7, 2016.


Fastenal Company (NASDAQ:FAST): The stock was completely flat for the day, closing at $43.30 on Thursday. The flat closing masks the intraday volatility in the stock. After opening at $43.57, the stock touched an intraday high of $43.75 and a low of $43.27. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $43.30. The total trading volume on Thursday was 3,372,188.

Fastenal Company sells industrial and construction supplies to end-users (business-to-business), and also has some walk-in retail business. The Companys product offerings include fasteners and other industrial and construction supplies, many of which are sold under the Fastenal product name. The Companys 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 Companys 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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