Fastenal Price Target Increased to $59.00 by Analysts at Robert W. Baird (FAST)
Investment analysts at Robert W. Baird lifted their target price on shares of Fastenal (NASDAQ:FAST) from $53.00 to $59.00 in a note issued to investors on Friday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 15.10% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Fastenal (NASDAQ:FAST) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 2nd. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Fastenal (NASDAQ:FAST) in a research note to investors on Wednesday, August 7th. They now have a $51.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Fastenal presently has a consensus rating of “Hold” and an average price target of $50.29.
Fastenal (NASDAQ:FAST) traded up 0.53% during mid-day trading on Friday, hitting $51.26. 1,481,740 shares of the company’s stock traded hands. Fastenal has a 52 week low of $40.00 and a 52 week high of $53.38. The stock has a 50-day moving average of $47.95 and a 200-day moving average of $48.44. The company has a market cap of $15.217 billion and a P/E ratio of 34.69.
Fastenal (NASDAQ:FAST) last announced its earnings results on Wednesday, July 10th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $847.60 million for the quarter, compared to the consensus estimate of $857.13 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts predict that Fastenal will post $1.56 earnings per share for the current fiscal year.
Fastenal Company is engaged in selling industrial and construction supplies in a wholesale and retail fashion.
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