Fastenal (NASDAQ:FAST) received a $50.00 price target from equities research analysts at Wells Fargo & Co in a research note issued to investors on Thursday. The brokerage presently has a “hold” rating on the stock. Wells Fargo & Co’s target price would indicate a potential downside of 3.98% from the company’s current price.
FAST has been the subject of a number of other research reports. BMO Capital Markets cut their price objective on shares of Fastenal from $57.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday, July 6th. Zacks Investment Research upgraded shares of Fastenal from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Tuesday, July 3rd. Wolfe Research assumed coverage on shares of Fastenal in a research report on Wednesday, June 27th. They set an “underperform” rating for the company. BidaskClub downgraded shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Stifel Nicolaus upped their price objective on shares of Fastenal from $53.00 to $56.00 and gave the stock a “hold” rating in a research report on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Fastenal presently has a consensus rating of “Hold” and a consensus price target of $57.11.
FAST stock opened at $52.07 on Thursday. Fastenal has a 12 month low of $45.96 and a 12 month high of $61.14. The firm has a market capitalization of $16.65 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92. The company has a quick ratio of 2.57, a current ratio of 5.62 and a debt-to-equity ratio of 0.19.
Several large investors have recently bought and sold shares of the company. Canton Hathaway LLC acquired a new position in shares of Fastenal during the 3rd quarter worth $186,000. Bank of Montreal Can grew its stake in shares of Fastenal by 23.8% during the 3rd quarter. Bank of Montreal Can now owns 494,532 shares of the company’s stock worth $28,693,000 after purchasing an additional 95,225 shares during the period. Douglass Winthrop Advisors LLC grew its stake in shares of Fastenal by 1.1% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 680,379 shares of the company’s stock worth $39,476,000 after purchasing an additional 7,318 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Fastenal during the 3rd quarter worth $302,000. Finally, DNB Asset Management AS grew its stake in shares of Fastenal by 2.6% during the 3rd quarter. DNB Asset Management AS now owns 46,968 shares of the company’s stock worth $2,725,000 after purchasing an additional 1,196 shares during the period. 85.85% of the stock is currently owned by institutional investors and hedge funds.
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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