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Fastenal

$51.05

-3.37 (-6.19%)

08:36
04/12/18
04/12
08:36
04/12/18
08:36

Fastenal Q1 results constrained by mix and freight issues, says BMO Capital

BMO Capital analyst R. Scott Graham kept his Market Perform rating and $57 price target on Fastenal but lowered his FY18 EPS view to $2.51 from $2.54 in the wake of the company's Q1 earnings. Graham points to issues with the company's sales mix, freight, and lack of operating leverage weighing on markets. The analyst also notes that the price-cost dynamics in the quarter were negative. While he expects pricing conditions to improve, Graham also anticipates "pedestrian" earnings growth to continue.

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FAST Fastenal
$51.05

-3.37 (-6.19%)

03/19/18
GSCO
03/19/18
INITIATION
Target $49
GSCO
Sell
Fastenal initiated with a Sell at Goldman Sachs
Goldman Sachs analyst Evelyn Chow started Fastenal with a Sell rating and $49 price target. The analyst expects the company' gross margins to decline the most in her Industrial Distributors coverage from 2017-2019. She sees limited upside potential given the potential for downward estimate revisions. Chow started the Industrial Distributors sector with a neutral stance.
03/19/18
03/19/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Pieris Pharmaceuticals (PIRS) initiated with an Outperform at Evercore ISI and a Buy at Jefferies. 2. ConvergeOne (CVON) initiated with an Outperform at William Blair. 3. II-VI (IIVI) initiated with a Buy at Deutsche Bank. 4. Fitbit (FIT) initiated with a Buy at Craig-Hallum. 5. Fastenal (FAST) initiated with a Sell at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/18
WELS
04/12/18
NO CHANGE
Target $49
WELS
Market Perform
Fastenal price target lowered to $49 from $56 at Wells Fargo
Wells Fargo analyst Allison Poliniak-Cusic lowered her price target for Fastenal to $49 from $56 following quarterly results. The analyst reiterates a Market Perform rating on the shares.
04/12/18
ARGS
04/12/18
NO CHANGE
Target $62
ARGS
Buy
Fastenal pullback offers buying opportunity, says Argus
Argus analyst John Eade says yesterday's earnings-driven decline in Fastenal stock price offers investors a buying opportunity. Eade notes that shares have been volatile amid expectations of higher government spending, but the company can be susceptible to cash flow generation variability from quarter to quarter. The analyst keeps his Buy rating and $62 price target on Fastenal, noting signs of improvement in the energy secto as well as the benefits from lower tax rates.

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