Raymond James Maintains Their Sell Rating on Fastenal Company (FAST)

In a report released today, Sam Darkatsh from Raymond James maintained a Sell rating on Fastenal Company (FAST). The company’s shares closed last Wednesday at $48.70, close to its 52-week high of $51.89.

According to TipRanks.com, Darkatsh is a 4-star analyst with an average return of 4.6% and a 53.8% success rate. Darkatsh covers the Industrial Goods sector, focusing on stocks such as Foundation Building Materials, Beacon Roofing Supply, and Wesco International.

Fastenal Company has an analyst consensus of Moderate Sell, with a price target consensus of $49.00, implying a -2.0% downside from current levels. In a report released yesterday, Wolfe Research also maintained a Sell rating on the stock with a $47.00 price target.

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Based on Fastenal Company’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.41 billion and net profit of $222 million. In comparison, last year the company earned revenue of $1.38 billion and had a net profit of $214 million.

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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.

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