Argus Research Raises Fastenal (FAST) Price Target to $59
Key Points
- Argus Research maintained a Buy rating on Fastenal Company on October 21, 2026, while raising its price target from $55 to $59.
- Argus Research's $59 price target implies 11.84% upside from Fastenal Company's ($FAST) current $52.76 share price.
- Fastenal Company recently traded at $51.85, sitting below its new $59 price target from Argus.
- Fastenal Company pays an annual dividend rate of $1.04 per share, translating to a 2.01% dividend yield.
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On October 21, 2026, Argus Research maintained its Buy rating on Fastenal Company (NasdaqGS: FAST) and raised its price target from $55 to $59. The update was shared in a research note from the firm on the same day.
FAST
Fastenal Company
Argus Research vs. the S&P 500
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Argus Research's Call on Fastenal Company
Argus Research kept a positive stance on the industrial distributor, lifting its target to $59 from $55. Other firms also weighed in around mid-October, including Baird maintaining an Outperform rating with a $60 target and Bernstein maintaining an Underperform rating with a $47 target.
Other Institutional Activity in Fastenal Company
Large investors adjusted their holdings in Fastenal recently. Heck Capital Advisors built a new position with 28,442 shares worth about $1.41 million. Meanwhile, Bank Of New York Mellon Corporation trimmed its stake by 6,762,479 shares, ending with 17,891,109 shares valued at about $937.49 million.
Fastenal Company Stock Up 2.1%
Fastenal recently traded around $51.85, down about 1.0% from its closing price of $52.40 on the rating date. The shares sit roughly 2.9% above their 50-day moving average of $50.37 and about 10.8% above their 200-day moving average of $46.80.
$FAST price target
Fastenal Company daily closes and this analyst's $59 target. Not advice.
Recent Earnings
Fastenal posted trailing twelve month revenue of $9.08 billion alongside trailing earnings of $1.23 per share. The company reported a net profit margin of 15.6% and a return on equity of 35.3%. Its next earnings report is scheduled for January 19, 2027.
Dividend
Fastenal Company distributes an annual dividend rate of $1.04 per share, providing a dividend yield of 2.01%. The payout ratio sits at 78.1%, showing how much of the company's earnings go toward shareholder dividends.
Insider Buying and Selling at Fastenal Company
Company insiders completed several transactions prior to the rating update. Director Michael J Ancius sold 3,000 shares for $147,000 on July 28, 2026, and another 3,000 shares for $156,000 on August 10, 2026. Director Rita J Heise sold 34,964 shares for $1,750,102 on August 5, 2026, while officer Donnalee Kathleen Papenfuss sold 9,258 shares valued at $475,758 on August 13, 2026.
About Fastenal Company
Fastenal Company operates from Winona, Minnesota, distributing industrial and construction supplies across the United States, Canada, Mexico, and internationally. The company focuses on fasteners and related maintenance supplies for commercial and industrial customers.
Bottom Line
Investors will watch how the stock performs relative to Argus Research's new $59 target ahead of the company's next earnings report on January 19, 2027.
Related Filing Alerts
Source: Argus Research's rating change on $FAST (Oct 21, 2026). Written by software, not financial advice. How we make alerts