Baird Boosts Fastenal (FAST) Price Target While Reaffirming Outperform Rating

Fastenal Company (NASDAQ:FAST) is included among the 13 Best NASDAQ Dividend Stocks to Buy Now.

On February 6, Baird analyst David Manthey raised his price recommendation on Fastenal Company (NASDAQ:FAST) to $51 from $49 and maintained an Outperform rating on the shares.

During Fastenal’s Q4 2025 earnings call, President and Chief Sales Officer Jeffery Watts said the company finished the year on a strong note. He described the fourth quarter as the conclusion of what had been a steady recovery throughout 2025. Daily sales increased slightly above 11% during the quarter, delivering double-digit growth. He also said Fastenal continued gaining market share, even as overall industrial activity remained sluggish.

Watts pointed to continued progress in expanding national and global contracts and deepening relationships with key customers. He said the company has been deliberately focusing more on large, strategic accounts. The number of contract customers rose by 241, an increase of just over 7%, driven by both new customer additions and expanded business with existing clients.

He also highlighted the growing role of technology in Fastenal’s operations. Nearly half of the company’s fourth-quarter sales were completed through FMI Technology or other digital platforms, reflecting increased adoption of its automated and value-added services. Financially, the company delivered solid results. Net sales reached $2.03 billion in the quarter, up 11% from a year earlier. Net income increased 12.2% to $294.1 million, and earnings per share came in at $0.26. For the full year, Fastenal reported record sales of $8.2 billion, representing nearly 9% growth, while net income rose to $1.26 billion, up 9.4%.

Fastenal Company (NASDAQ:FAST) operates as a wholesale distributor of industrial and construction supplies. Its products include threaded fasteners such as bolts, nuts, screws, and studs, along with washers and a wide range of related hardware and industrial supplies.

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