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FAST - Fastenal downgraded to Equal Weight at Stephens
Fastenal Company
2023-07-13 16:03:01 ET
Fastenal ( NASDAQ: FAST ) on Thursday was downgraded to Equal Weight from a previous investment rating of Overweight by analysts at financial-services firm Stephens.
They said the company’s stock is trading near the Stephens price target of $60 a share, and that further advances likely will depend on a faster pace of earnings growth.
Fastenal ( FAST ) on Thursday said net earnings grew 3.8% from a year earlier to $0.52 a share, matching the average estimate of Wall Street analysts.