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Fly News Breaks for January 17, 2020
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Jan 17, 2020 | 10:01 EDT
William Blair analyst Ryan Merkel says Fastenal's Q4 operating profit missed the Street by 1%, with a soft December and weaker gross margins offset in part by good expense management. The analyst expects Fastenal shares to trade lower today, but he adds that investors are looking forward to better growth in 2020, which could limit the downside. He keeps a Market Perform rating on the name. Fastenal in early trading is down 30c to $37.01.
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