Wunderlich Securities Analysts Begin Coverage on Fastenal (FAST)

By admin | 6 years ago

Research analysts at Wunderlich Securities began coverage on shares of Fastenal (NASDAQ: FAST) in a report released on Friday. The firm set a “buy” rating and a $51.00 price target on the stock.

Shares of Fastenal opened at 44.40 on Friday. Fastenal has a 52 week low of $29.14 and a 52 week high of $55.05. The company has a market cap of $13.146 billion and a P/E ratio of 34.66.

Fastenal last announced its earnings results on Thursday, April 12nd. The company reported $0.34 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.34. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts predict that Fastenal will post $0.39 earnings per share next quarter.

FAST has been the subject of a number of other recent research reports. Analysts at Wunderlich initiated coverage on shares of Fastenal in a research note to investors on Friday. They set a “buy” rating and a $51.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Fastenal from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, April 25th. They now have a $49.00 price target on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Fastenal from $36.00 to $39.00 in a research note to investors on Monday, April 16th. They now have an “underweight” rating on the stock.

Fastenal Company (Fastenal) sells industrial and construction supplies in a wholesale and retail fashion.

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