Raymond James analyst Sam Darkatsh reiterated a Sell rating on Fastenal Company (FAST) today. The company’s shares closed last Thursday at $44.17.
According to TipRanks.com, Darkatsh is a 4-star analyst with an average return of 5.5% and a 56.0% success rate. Darkatsh covers the Industrial Goods sector, focusing on stocks such as Beacon Roofing Supply, Genuine Parts Company, and Wesco International.
The word on The Street in general, suggests a Hold analyst consensus rating for Fastenal Company with a $49.50 average price target.
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Based on Fastenal Company’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.36 billion and net profit of $196 million. In comparison, last year the company earned revenue of $1.28 billion and had a net profit of $179 million.
Based on the recent corporate insider activity of 40 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.
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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 & metalworking, fasteners, material handling, storage & packaging power, transmission & motors, tools & equipment, electricals, abrasives, hydraulics & pneumatics, plumbing, lifting & rigging, raw materials, fleet & automotive, welding, office products & 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.
