Raymond James analyst Sam Darkatsh maintained a Hold rating on Fastenal Company (FAST) today. The company’s shares closed last Friday at $46.27, close to its 52-week high of $49.86.
According to TipRanks.com, Darkatsh is a 1-star analyst with an average return of -0.2% and a 51.0% success rate. Darkatsh covers the Industrial Goods sector, focusing on stocks such as Wesco International, The Toro Company, and WW Grainger.
Fastenal Company has an analyst consensus of Moderate Buy, with a price target consensus of $46.17, representing a -2.9% downside. In a report released yesterday, Wells Fargo also downgraded the stock to Hold with a $50.00 price target.
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Based on Fastenal Company’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.51 billion and net profit of $239 million. In comparison, last year the company earned revenue of $1.37 billion and had a net profit of $205 million.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FAST in relation to earlier this year. Last month, Rita Heise, a Director at FAST sold 4,000 shares for a total of $192,280.
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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.
