Short Term Price Target on Fastenal Company (FAST)

Fastenal Company (NASDAQ:FAST) : 6 Wall Street analysts covering Fastenal Company (NASDAQ:FAST) believe that the average level the stock could reach for the short term is $45.83. The maximum price target given is $51 and the minimum target for short term is around $38, hence the standard deviation is calculated at $5.6.

Fastenal Company has lost 2.57% in the last five trading days and dropped 4% in the last 4 weeks. Fastenal Company has dropped 8.68% during the last 3-month period . Year-to-Date the stock performance stands at 10.34%. Also, In a research note released to the investors, Credit Suisse maintains its rating on Fastenal Company (NASDAQ:FAST).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Credit Suisse raises the new price target from $37 per share to $44 per share. The rating by the firm was issued on April 14, 2016.

Fastenal Company (NASDAQ:FAST) : 15 analysts are covering Fastenal Company (NASDAQ:FAST) and their average rating on the stock is 3, which is read as a Hold. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 2 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 11 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Fastenal Company (NASDAQ:FAST): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $43.51 and $43.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $44.42. The buying momentum continued till the end and the stock did not give up its gains. It closed at $44.39, notching a gain of 2.19% for the day. The total traded volume was 2,711,980 . The stock had closed at $43.44 on the previous day.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Interim CFO/CAO/Controller) of Fastenal Co, Lisowski Sheryl Ann had sold 5,000 shares worth of $233,450 in a transaction dated March 2, 2016. In this transaction, 5,000 shares were sold at $46.69 per share.

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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