Fastenal Likely To Report Higher Q1 Earnings - Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Fastenal Company FAST is expected to review its first quarter earnings results before the opening bell on April 13, 2023.

Analysts expect the company to post quarterly earnings at 50 cents per share, up from year-ago earnings of 47 cents per share. The company’s revenue might come in at $1.86 billion.

Fastenal shares fell 0.2% to close at $52.56 on Wednesday, and added 3% in after-hours trading session.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Stifel analyst Michael Hoffman initiated coverage on the stock with a Buy rating and a price target of $61 on April 4, 2023. This analyst sees around 16% upside in the company’s stock and has an accuracy rate of 79%.
• Morgan Stanley analyst Betsy Graseck maintained an Underweight rating and raised the price target from $42 to $46 on April 5, 2023. This analyst sees around 12% downside in the company’s stock and has an accuracy rate of 61%.
• Jefferies analyst Stephen Volkmann assumed a Hold rating with a price target of $50 on Oct. 17, 2022. This analyst sees around 5% downside in the company’s stock and has an accuracy rate of 70%.
• Loop Capital analyst Chris Dankert maintained a Hold rating and cut the price target from $54 to $53 on Jan. 23, 2023. This analyst sees around 1% upside in the company’s stock and has an accuracy rate of 64%.
• Argus Research analyst John Eade maintained a Buy rating and cut the price target from $66 to $55 on July 15, 2022. This analyst sees around 5% upside in the company’s stock and has an accuracy rate of 71%.

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