Stifel Nicolaus analyst Robert McCarthy maintained a Hold rating on Fastenal Company (NASDAQ: FAST) on July 13 and set a price target of $56. The company’s shares closed on Friday at $55.24.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 14.1% and a 76.7% success rate. McCarthy covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, United Technologies Corp, and Honeywell International.
Fastenal Company has an analyst consensus of Hold, with a price target consensus of $56.25, a 1.8% upside from current levels. In a report issued on July 3, Robert W. Baird also downgraded the stock to Hold.
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The company has a one-year high of $58.74 and a one-year low of $39.79. Currently, Fastenal Company has an average volume of 3.07M.
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.
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.
