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Fastenal

$42.30

-0.43 (-1.01%)

13:42
10/10/16
10/10
13:42
10/10/16
13:42

Fastenal technical comments ahead of results

The shares have been in a downtrend since hitting a peak of price in March of this year. If the news is a negative disappointment, that downtrend is likely to extend. The first support level of note would be at the $40 area. A breakdown below $40 would signal a resumption of the downtrend with greater momentum. Support below $40 would be at $39.03 and $37.67. If the news is stronger than expected, a move above $44.50 would break the downtrend. Next resistance levels to watch in that event as potential upside objectives would be at $45.83 and $46.80.

  • 11

    Oct

FAST Fastenal
$42.30

-0.43 (-1.01%)

04/05/16
BMOC
04/05/16
INITIATION
Target $50
BMOC
Market Perform
Fastenal initiated with a Market Perform at BMO Capital
BMO Capital analyst R. Scott Graham started Fastenal with a Market Perform rating and $50 price target.
05/05/16
DBAB
05/05/16
NO CHANGE
DBAB
Deutsche Bank reiterates Sell on Grainger amid today's rally
Deutsche Bank questions the rally in Grainger (GWW) following Fastenal's (FAST) April sales results. The stock is trading up 2% to $233.03. Fastenal's results mirror Grainger's already given guidance, Deutsche contends. The firm believes Grainger gets riskier as the share price moves higher and does not view the company as a play on a recovery.
07/07/16
MSCO
07/07/16
INITIATION
Target $46
MSCO
Equal Weight
Fastenal initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Nigel Coe initiated Fastenal with an Equal Weight and $46 price target.
08/25/16
MACQ
08/25/16
INITIATION
Target $50
MACQ
Neutral
Fastenal initiated with a Neutral at Macquarie
Macquarie analyst Hamzah Mazari initiated Fastenal with a Neutral and $50 price target.

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