Zacks Investment Research downgraded Fastenal Company (NASDAQ:FAST) to Sell in a statement released earlier today.
- Updated: October 14, 2016
Zacks Investment Research has downgraded Fastenal Company (NASDAQ:FAST) to Sell in a statement released on 10/14/2016.
Boasting a price of $38.34, Fastenal Company (NASDAQ:FAST) traded -1.84% lower on the day. With the last stock price close down -12.99% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Fastenal Company has recorded a 50-day average of $41.44 and a two hundred day average of $44.06. Volume of trade was up over the average, with 4,830,789 shares of FAST changing hands over the typical 2,514,670
With a total market value of $0, Fastenal Company has price-earnings ratio of 21.91 with a one year low of $35.10 and a one year high of $49.99 .
A total of 8 equity analysts have released a ratings update on FAST. Two equity analysts rating the company a strong buy, zero equity analysts rating the company a buy, fifteen equity analysts rating the company a hold, one equity analyst rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $44.75.
Brief Synopsis About Fastenal Company (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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