Stifel raised the firm’s price target on Fastenal to $66 from $61 and keeps a Buy rating on the shares. Fastenal has demonstrated it can be nimble and “weathered the inventory destocking and repricing with better FCF and more stable profitability than many seers predicted,” the analyst tells investors in an earnings recap note.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FAST:
- Early notable gainers among liquid option names on October 12th
- Fastenal COO Terry Owen resigns, effective October 31
- Options Volatility and Implied Earnings Moves Today, October 12, 2023
- Fastenal experienced growth at Onsite locations in Q3
- Fastenal says digital footprint in Q3 represented 57.1% of sales