Breaking: Fastenal (NASDAQ:FAST) “Market Perform” Rating Reconfirmed by Analysts at Wells Fargo Today; The Target Price is $53

July 12, 2018 - By Jimmy Baldridge

Fastenal Company (NASDAQ:FAST) Logo

Investors sentiment decreased to 0.83 in 2018 Q1. Its down 0.22, from 1.05 in 2017Q4. It worsened, as 45 investors sold Fastenal Company shares while 231 reduced holdings. 56 funds opened positions while 174 raised stakes. 236.95 million shares or 2.01% more from 232.28 million shares in 2017Q4 were reported.

Pennsylvania-based Haverford Trust has invested 0% in Fastenal Company (NASDAQ:FAST). Magnetar Fincl Ltd Liability Com stated it has 0.02% of its portfolio in Fastenal Company (NASDAQ:FAST). Rfg Advisory Grp Incorporated Lc owns 0.16% invested in Fastenal Company (NASDAQ:FAST) for 7,740 shares. Harvey Communications Ltd Liability Corporation holds 364,187 shares or 3.67% of its portfolio. Public Employees Retirement Association Of Colorado invested 0.02% of its portfolio in Fastenal Company (NASDAQ:FAST). Edge Wealth Limited Liability Com has 0% invested in Fastenal Company (NASDAQ:FAST) for 140 shares. Long Road Invest Counsel Llc holds 66,320 shares or 2.53% of its portfolio. Architects accumulated 100 shares. Moreover, Employees Retirement Of Ohio has 0.06% invested in Fastenal Company (NASDAQ:FAST). Washington Trust Bank & Trust invested in 0.01% or 1,600 shares. First Long Island Investors Lc has invested 2.6% in Fastenal Company (NASDAQ:FAST). Ibm Retirement Fund, New York-based fund reported 6,374 shares. Keybank National Association Oh holds 0% in Fastenal Company (NASDAQ:FAST) or 14,106 shares. Hartford Inv Mngmt Co invested in 55,402 shares. State Of Alaska Department Of Revenue owns 45,185 shares.

Since January 25, 2018, it had 4 buys, and 4 selling transactions for $3.27 million activity. Jansen James C had sold 29,758 shares worth $1.56M. Shares for $35,219 were bought by Eastman Stephen L. on Friday, April 27. Another trade for 26,250 shares valued at $1.48M was made by Miller Charles S. on Thursday, January 25. Lewis Holden also bought $50,275 worth of Fastenal Company (NASDAQ:FAST) shares. $103,700 worth of stock was bought by Owen Terry Modock on Wednesday, June 6. Ancius Michael J bought $22,181 worth of Fastenal Company (NASDAQ:FAST) on Wednesday, April 25.

Fastenal (NASDAQ:FAST) Rating Reaffirmed

Investment analysts at Wells Fargo now has a $53 target price on Fastenal (NASDAQ:FAST). Wells Fargo and their recent target price gives a potential downside of -4.12 % from the company’s close price. The rating has been revealed to investors in analysts note on 12 July.

Fastenal Company (NASDAQ:FAST) Ratings Coverage

Among 11 analysts covering Fastenal Company (NASDAQ:FAST), 5 have Buy rating, 1 Sell and 5 Hold. Therefore 45% are positive. Fastenal Company has $65.0 highest and $4900 lowest target. $56.27’s average target is 1.80% above currents $55.275 stock price. Fastenal Company had 21 analyst reports since January 17, 2018 according to SRatingsIntel. The rating was maintained by Robert W. Baird with “Buy” on Tuesday, March 6. KeyBanc Capital Markets maintained it with “Buy” rating and $5800 target in Thursday, April 12 report. The firm has “Hold” rating given on Monday, March 19 by Susquehanna. The stock of Fastenal Company (NASDAQ:FAST) has “Hold” rating given on Thursday, April 12 by Stifel Nicolaus. On Wednesday, January 17 the stock rating was upgraded by Credit Suisse to “Buy”. Susquehanna maintained the shares of FAST in report on Thursday, January 18 with “Hold” rating. The firm has “Buy” rating by Stephens given on Wednesday, April 11. Wells Fargo maintained Fastenal Company (NASDAQ:FAST) rating on Thursday, April 12. Wells Fargo has “Hold” rating and $4900 target. The firm has “Hold” rating given on Thursday, April 12 by Susquehanna. The rating was maintained by Stephens with “Buy” on Wednesday, January 17.

The stock increased 1.40% or $0.765 during the last trading session, reaching $55.275. About 1.52M shares traded. Fastenal Company (NASDAQ:FAST) has risen 21.28% since July 12, 2017 and is uptrending. It has outperformed by 8.71% the S&P500.

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. The company has market cap of $15.90 billion. It offers fasteners, and other industrial and construction supplies primarily under the Fastenal name. It has a 25.71 P/E ratio. The companyÂ’s fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and building projects, as well as in the maintenance and repair of machines and structures.

More notable recent Fastenal Company (NASDAQ:FAST) news were published by: Benzinga.com which released: “44 Biggest Movers From Yesterday” on July 12, 2018, also Nasdaq.com with their article: “Mid-Morning Market Update: Markets Open Lower; Fastenal Profit Tops Views” published on July 11, 2018, Seekingalpha.com published: “Fastenal tops estimates after announcing dividend” on July 11, 2018. More interesting news about Fastenal Company (NASDAQ:FAST) were released by: Seekingalpha.com and their article: “Fastenal: A ‘5 M’ Analysis” published on July 06, 2018 as well as Seekingalpha.com‘s news article titled: “Latching On To Fastenal” with publication date: July 07, 2018.

Fastenal Company (NASDAQ:FAST) Institutional Positions Chart

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