Fastenal Company (FAST) Receives a Hold from J.P. Morgan

In a report released yesterday, Patrick Baumann from J.P. Morgan maintained a Hold rating on Fastenal Company (FASTResearch Report), with a price target of $51.00. The company’s shares closed last Tuesday at $59.32.

According to TipRanks.com, Baumann is ranked #6574 out of 7939 analysts.

Fastenal Company has an analyst consensus of Hold, with a price target consensus of $58.60.

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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 $1.53 billion and net profit of $231 million. In comparison, last year the company earned revenue of $1.36 billion and had a net profit of $196 million.

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.

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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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