Fastenal Company (FAST) Receives Price Target

Fastenal Company (FAST) : The highest short term price target forecast on Fastenal Company (FAST) is $51 and the lowest target price is $36. A total of 6 equity analysts are currently covering the company. The average price of all the analysts is $44.5 with a standard deviation of $5.75.

Fastenal Company (FAST) : 14 analysts are covering Fastenal Company (FAST) and their average rating on the stock is 3.14, which is read as a Hold. 1 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 4, which recommends a Sell 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.


Also, Macquarie initiates coverage on Fastenal Company (NASDAQ:FAST) The brokerage firm has issued a Neutral rating on the shares. The rating by the firm was issued on August 25, 2016.

Fastenal Company (NASDAQ:FAST): The stock opened at $43.25 on Thursday but the bulls could not build on the opening and the stock topped out at $43.37 for the day. The stock traded down to $42.45 during the day, due to lack of any buying support eventually closed down at $42.82 with a loss of -0.67% for the day. The stock had closed at $43.11 on the previous day. The total traded volume was 2,408,860 shares.

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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