Fastenal Company Gets a Buy Rating from Stephens

By Carrie Williams

Stephens analyst Matt Duncan reiterated a Buy rating on Fastenal Company (NASDAQ: FAST) today and set a price target of $60. The company’s shares opened today at $51.05.

According to TipRanks.com, Duncan is a 2-star analyst with an average return of 1.5% and a 47.5% success rate. Duncan covers the Basic Materials sector, focusing on stocks such as Primoris Services Corp, Mistras Group Inc, and Quanta Services.

Fastenal Company has an analyst consensus of Moderate Buy, with a price target consensus of $59.13.

Based on Fastenal Company’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.09 billion and quarterly net profit of $152 million. In comparison, last year the company earned revenue of $1.05 billion and had a net profit of $134 million.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. Last month, James Jansen, the EVP of FAST sold 242 shares for a total of $14,036.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Fastenal Co. engages in the provision of fasteners, tools, and supplies which can help in the manufacture of products, build structures, protect personnel, and maintain facilities and equipment. It products include cutting tools and metalworking; fasteners; material handling, storage and packaging; power transmission and motors; tools and equipment; electrical; abrasives; hydraulics and pneumatics; plumbing; lifting and rigging; raw materials; fleet and automotive; welding; office products and furniture; janitorial; and lighting. The company was founded by Robert A. Kierlin, Michael M. Gostomski, Henry K. McCannon, John D. Remick, and Stephen M. Slaggie in November 1967 and is headquartered in Winona, MN.