Fastenal Company (FAST) Gets a Hold Rating from Wells Fargo

Wells Fargo analyst Michael McGinn maintained a Hold rating on Fastenal Company (FASTResearch Report) today and set a price target of $60.00. The company’s shares closed last Wednesday at $58.98.

According to TipRanks.com, McGinn is a 2-star analyst with an average return of -0.1% and a 47.5% success rate. McGinn covers the Industrial Goods sector, focusing on stocks such as John Bean Technologies, Columbus Mckinnon, and Applied Tech.

Fastenal Company has an analyst consensus of Hold, with a price target consensus of $61.29, implying an 8.1% upside from current levels. In a report issued on April 5, J.P. Morgan also maintained a Hold rating on the stock with a $51.00 price target.

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The company has a one-year high of $64.75 and a one-year low of $48.57. Currently, Fastenal Company has an average volume of 3.55M.

Based on the recent corporate insider activity of 23 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.

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.

Incorporated in 1967, Fastenal Co. is a Minnesota-based company, which is engaged in the wholesale distribution of industrial and construction supplies. It offers fasteners, and related industrial and construction supplies under the Fastenal name.

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