KeyBanc Starts Fastenal (FAST) at Sector Weight

KeyBanc initiated coverage on Fastenal (NASDAQ: FAST) with a Sector Weight rating.

Analyst Ryan Cieslak said, "We view FAST as a “best-in-class” industrial distributor offering superior growth, margins, and returns reflecting competitive advantages associated with its operating model, growth-orientation, and operational discipline. Combined with a history of returning capital to shareholders, we believe valuation is increasingly attractive, but remain patient given challenging industrial end markets, OEM/ heavy manufacturing exposure, and more difficult 2H15 comparisons."

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 $41.86 yesterday.

You May Also Be Interested In

• UBS Starts Elevra Lithium (ELV:AU) at Buy
• Bernstein SocGen Group Starts WuXi AppTec Co Ltd (603259:CH) at Outperform
• Ericsson (ERICB:SS) (ERIC) PT Lowered to SEK77 at BofA Securities