Analyst Rating Update on Fastenal Company (FAST)

Fastenal Company (FAST) : The consensus on Fastenal Company (FAST) based on 15 analyst recommendation on the company stock is 3.13, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 5 which endorses a Strong Sell on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 12 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 2 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Fastenal Company (FAST) : Average target price received by Fastenal Company (FAST) is $45.29 with an expected standard deviation of $5.65. The most aggressive target on the stock is $51, whereas the most downbeat target is $36. 7 financial analysts are currently covering the stock.

Company shares have received an average consensus rating of Hold for the current week Also, Morgan Stanley initiates coverage on Fastenal Company (NASDAQ:FAST). In the latest research report, Morgan Stanley announces the target price to $46 per share. According to the latest information available, the shares are now rated Equal-weight by the analysts at the agency. The rating by the firm was issued on July 7, 2016.

Fastenal

Fastenal Company (NASDAQ:FAST): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.81 and $41.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.08. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.06, notching a gain of 0.60% for the day. The total traded volume was 3,291,099 . The stock had closed at $41.81 on the previous day.

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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