The stock of Fastenal Company (NASDAQ:FAST) is a huge mover today! About 5.73 million shares traded hands or 145.92% up from the average. Fastenal Company (NASDAQ:FAST) has declined 9.56% since March 8, 2016 and is downtrending. It has underperformed by 18.87% the S&P500.
The move comes after 6 months negative chart setup for the $11.50B company. It was reported on Oct, 11 by Barchart.com. We have $36.77 PT which if reached, will make NASDAQ:FAST worth $920.00M less.
Fastenal Company (NASDAQ:FAST) Ratings Coverage
Out of 11 analysts covering Fastenal (NASDAQ:FAST), 1 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 9% are positive. Fastenal has been the topic of 24 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Avondale maintained Fastenal Company (NASDAQ:FAST) on Thursday, April 7 with “Market Perform” rating. The rating was downgraded by Stifel Nicolaus to “Hold” on Friday, April 1. The stock has “Sector Weight” rating given by KeyBanc Capital Markets on Tuesday, July 21. The stock of Fastenal Company (NASDAQ:FAST) has “Neutral” rating given on Tuesday, March 22 by Sterne Agee CRT. Stifel Nicolaus maintained the stock with “Buy” rating in Wednesday, October 14 report. Credit Suisse reinitiated the shares of FAST in a report on Friday, June 17 with “Neutral” rating. The stock of Fastenal Company (NASDAQ:FAST) earned “Buy” rating by Stifel Nicolaus on Tuesday, January 19. The stock of Fastenal Company (NASDAQ:FAST) has “Neutral” rating given on Monday, August 24 by Robert W. Baird. As per Friday, September 4, the company rating was maintained by William Blair. The firm has “Neutral” rating given on Friday, August 26 by Macquarie Research.
According to Zacks Investment Research, “Fastenal Company sells industrial and construction supplies grouped into eleven product lines. The traditional FastenalÂ® product line consists of threaded fasteners and other miscellaneous supplies. The Company also sells, in its other ten product lines, tools, metal cutting tool blades and blade resharpening services, fluid transfer components and accessories for hydraulic and pneumatic power, material handling and storage products, janitorial and paper products, electrical supplies, welding supplies, safety supplies, and raw materials.”
Insitutional Activity: The institutional sentiment increased to 1.29 in Q2 2016. Its up 0.09, from 1.2 in 2016Q1. The ratio is positive, as 49 funds sold all Fastenal Company shares owned while 166 reduced positions. 57 funds bought stakes while 220 increased positions. They now own 231.91 million shares or 8.00% less from 252.08 million shares in 2016Q1.
Nepsis Capital reported 21,244 shares or 0.54% of all its holdings. Gam Hldg Ag has 116,273 shares for 0.08% of their US portfolio. Us Retail Bank De has invested 0.07% of its portfolio in Fastenal Company (NASDAQ:FAST). Park Oh has invested 0.02% of its portfolio in Fastenal Company (NASDAQ:FAST). Clinton Inc has invested 0.01% of its portfolio in Fastenal Company (NASDAQ:FAST). Creative Planning last reported 0% of its portfolio in the stock. Moreover, Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv has 0.08% invested in Fastenal Company (NASDAQ:FAST) for 149,800 shares. Reilly Fin Llc has 200 shares for 0% of their US portfolio. State Farm Mutual Automobile Insurance holds 137,622 shares or 0.01% of its portfolio. Element Cap Limited Liability Company accumulated 0.15% or 22,398 shares. Parkside Savings Bank & Tru accumulated 3,004 shares or 0.06% of the stock. Alta Ltd reported 945,001 shares or 2.59% of all its holdings. The Florida-based Finemark Comml Bank & Tru has invested 0.02% in Fastenal Company (NASDAQ:FAST). River Road Asset Limited Liability Company accumulated 1.83 million shares or 1.72% of the stock. Yhb Inv, a Connecticut-based fund reported 31,398 shares.
Insider Transactions: Since September 9, 2016, the stock had 1 buy, and 0 sales for $24,600 net activity. 600 shares were bought by Ancius Michael J, worth $24,600.
More recent Fastenal Company (NASDAQ:FAST) news were published by: Globenewswire.com which released: “Fastenal Company Announces Cash Dividend” on October 10, 2016. Also Benzinga.com published the news titled: “Investors’ Response Muted To Fastenal’s Mixed Q3 Results” on October 11, 2016. Globenewswire.com‘s news article titled: “Fastenal Company Announces Conference Call to Review 2016 Third Quarter Earnings” with publication date: September 26, 2016 was also an interesting one.
FAST Company Profile
Fastenal Company, incorporated on December 24, 1968, is engaged in wholesale distribution of industrial and construction supplies. The Firm distributes these supplies through a network of approximately 2,600 Company-owned stores. The Firm sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business. The Firm operates approximately 10 distribution centers in North America. The Company’s clients are in the manufacturing and non-residential construction markets. The manufacturing market includes both original equipment manufacturers (OEM), and maintenance and repair activities (MRO). The non-residential construction market includes general, electrical, plumbing, sheet metal and road contractors. Other users of its products include farmers, truckers, railroads, mining companies, schools and certain retail trades.
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