There’s a lot to be optimistic about in the Conglomerates sector as 3 analysts just weighed in on Fastenal Company (FAST), Ametek (AME) and Teekay Tankers (TNK) with bullish sentiments.
Fastenal Company (FAST)
In a report issued on February 22, David Manthey from Robert W. Baird maintained a Buy rating on Fastenal Company, with a price target of $51.00. The company’s shares closed last Thursday at $52.87, close to its 52-week high of $53.08.
According to TipRanks.com, Manthey is a 5-star analyst with an average return of 17.3% and a 75.8% success rate. Manthey covers the Industrial Goods sector, focusing on stocks such as SiteOne Landscape Supply, Beacon Roofing Supply, and Builders Firstsource.
Fastenal Company has an analyst consensus of Hold, with a price target consensus of $51.67.
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Ametek (AME)
In a report issued on March 26, Scott Graham from Rosenblatt Securities reiterated a Buy rating on Ametek. The company’s shares closed last Thursday at $137.09, close to its 52-week high of $137.84.
According to TipRanks.com, Graham is a 5-star analyst with an average return of 16.3% and a 71.8% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Altra Industrial Motion, Thermon Group Holdings, and Rockwell Automation.
Currently, the analyst consensus on Ametek is a Strong Buy with an average price target of $142.33, representing a 4.6% upside. In a report issued on March 18, RBC Capital also maintained a Buy rating on the stock with a $139.00 price target.
Teekay Tankers (TNK)
H.C. Wainwright analyst Magnus Fyhr initiated coverage with a Buy rating on Teekay Tankers on March 29 and set a price target of $22.00. The company’s shares closed last Thursday at $13.78.
According to TipRanks.com, Fyhr is ranked #6524 out of 7490 analysts.
Teekay Tankers has an analyst consensus of Strong Buy, with a price target consensus of $20.25, representing a 43.1% upside. In a report issued on April 18, Cleaves Securities also maintained a Buy rating on the stock with a $26.00 price target.
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