Fastenal downgraded to Equal Weight at Stephens
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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 companyâs 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.