(Updated - June 16, 2026 7:31 AM EDT)

DA Davidson analyst Chris Dankert initiates coverage on Fastenal (NASDAQ: FAST) with a Neutral rating, PT $46.00.

The analyst comments "We are initiating coverage of Fastenal (FAST) with a ‘NEUTRAL’ rating and a $46 price target (~35x our CY27 EPS forecast). On even modestly positive underlying market growth, FAST has demonstrated an ability to deliver +DD sales growth, well ahead of peers. Furthermore, FAST is a best-in-breed distributor that has proven to be a cross-cycle earnings compounder. However, we see current consensus EPS forecasts as slightly too high due to near-term margin challenges. FAST is a high quality name, and we would be buyers on any meaningful retrenchment or a reset of Street earnings expectations."

For an analyst ratings summary and ratings history on Fastenal click here. For more ratings news on Fastenal click here.

Shares of Fastenal closed at $46.57 yesterday.

Analyst Comments New Coverage