In a report issued on July 12, Ryan Cieslak from Northcoast Research reiterated a Buy rating on Fastenal Company (NASDAQ: FAST), with a price target of $60. The company’s shares closed yesterday at $55.24.
Cieslak has an average return of 13.7% when recommending Fastenal Company.
According to TipRanks.com, Cieslak is ranked #2091 out of 4843 analysts.
Currently, the analyst consensus on Fastenal Company is a Hold with an average price target of $56.
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Fastenal Company’s market cap is currently $15.85B and has a P/E ratio of 23.21. The company has a Price to Book ratio of 7.12.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FAST in relation to earlier this year. Most recently, in May 2018, James Jansen, the EVP of FAST sold 29,758 shares for a total of $1,562,395.
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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.
