Fastenal Company (FAST) : Analyst Rating Update

Fastenal Company (FAST) : 2 brokerage houses believe that Fastenal Company (FAST) is a Strong Buy at current levels. 11 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Fastenal Company (FAST). Zacks Investment Research suggests a Hold with a rank of 3. 2 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 15 Wall Street Analysts endorse the stock as a Hold with a rating of 3.

Fastenal Company (FAST) : 6 Wall Street analysts covering Fastenal Company (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 (NASDAQ:FAST): The stock opened at $43.61 on Wednesday but the bulls could not build on the opening and the stock topped out at $44.53 for the day. The stock traded down to $43.50 during the day, due to lack of any buying support eventually closed down at $44.34 with a loss of -0.09% for the day. The stock had closed at $44.38 on the previous day. The total traded volume was 2,866,434 shares.

Also, Major Brokerage house, Credit Suisse maintains its ratings on Fastenal Company (NASDAQ:FAST). In the latest research report, Credit Suisse raises the target price from $37 per share to $44 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on April 14, 2016. The company shares have rallied 5.64% from its 1 Year high price. On Mar 21, 2016, the shares registered one year high at $49.99 and the one year low was seen on Oct 2, 2015. The 50-Day Moving Average price is $44.98 and the 200 Day Moving Average price is recorded at $44.39.

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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