Fastenal Company (FAST) Shares are Up 1.5%

Fastenal Company (FAST) has been under a strong bear grip, hence the stock is down -8.68% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.56% in the past 1 week. The stock has risen by 1.5% in the past week indicating that the buyers are active at lower levels, but the stock is down -5.61% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 0.93% and the 50-Day Moving Average is 2.99%. Fastenal Company has dropped 7.97% during the last 3-month period . Year-to-Date the stock performance stands at 7.03%.


Fastenal Company (NASDAQ:FAST): stock turned positive on Friday. Though the stock opened at $42.47, the bulls momentum made the stock top out at $42.96 level for the day. The stock recorded a low of $42.29 and closed the trading day at $42.75, in the green by 0.59%. The total traded volume for the day was 2,816,638. The stock had closed at $42.5 in the previous days trading.

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 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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