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Argus downgraded Fastenal (NASDAQ:FAST) from Buy to Hold in a report released today.

Argus has downgraded Fastenal (NASDAQ:FAST) from Buy to Hold in a report released on 10/14/2016.

Yesterday Fastenal (NASDAQ:FAST) traded -1.84% lower at $38.34. The company’s 50-day moving average is $41.44 and its 200-day moving average is $44.06. The last closing price is down -12.99% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 4,830,789 shares of the stock were exchanged, up from an avg. volume of 2,514,670

Performance Chart

Fastenal (NASDAQ:FAST)

With a total market value of $0, Fastenal has 52 week low of $35.10 and a one year high of $49.99 with a P/E ratio of 21.91 .

In addition to Argus reporting its target price, a total of 8 brokers have issued a report on the stock. The consensus target price is $44.75 with 2 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 15 brokers rating the stock a hold, 1 broker rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About Fastenal (NASDAQ:FAST)

Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business. The Company operates approximately 10 distribution centers in North America. The Company's original product offerings were fasteners and other industrial and construction supplies, many of which are sold under the Fastenal product name. The Company's product line consists of approximately two categories, including threaded fasteners, such as bolts, nuts, screws, studs and related washers, and miscellaneous supplies and hardware, such as various pins and machinery keys, concrete anchors, metal framing systems, wire rope, strut, rivets and related accessories. Its customers are in the manufacturing and non-residential construction markets.

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