Equities research analysts at Credit Suisse (NYSE: CS) increased their price target on shares of Fastenal (NASDAQ: FAST) to $48.00 in a research note issued to investors on Monday. They currently have a “neutral” rating on the company’s shares.
Separately, analysts at UBS AG (NYSE: UBS) reiterated a “neutral” rating on shares of Fastenal in a research note to investors on Friday, January 20th. Analysts at Zacks Investment Research upgraded shares of Fastenal from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, January 13rd. They now have a $55.00 price target on the stock. Also, analysts at Morgan Keegan raised their price target on shares of Fastenal to $53.00 in a research note to investors on Thursday, January 12nd.
Fastenal Company (Fastenal) sells industrial and construction supplies in a wholesale and retail fashion. As of December 31, 2009, the Company had 2,369 store locations located in the United States, Puerto Rico, Canada, Mexico, Singapore, China, The Netherlands, Hungary, and Malaysia. During the year ended December 31, 2009, the Company operated 14 distribution centers in North America, from which it distributed products to its store and in-plant locations. In addition, Fastenal also operates strategic account stores, strategic account sites, and in-plant site.
Fastenal traded down 0.34% on Monday, hitting $46.36. Fastenal has a 1-year low of $28.84 and a 1-year high of $47.59. The stock has a 50-day moving average of $44.21 and a 200-day moving average of $37.45. The company has a market cap of $13.688 billion and a price-to-earnings ratio of 38.45.