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Fastenal

$31.23

-0.34 (-1.08%)

06:53
07/11/19
07/11
06:53
07/11/19
06:53

Fastenal says saw 'slowing' in Q2 relative to activity levels in Q1

The company said, "Net sales increased $100.5, or 7.9%, in the second quarter of 2019 when compared to the second quarter of 2018. This increase was driven by higher unit sales related primarily to our growth drivers, most notably contribution from industrial vending, Onsite locations, and construction, as well as higher underlying market demand compared to the second quarter of 2018. While general economic activity remained positive, we did see slowing in the second quarter of 2019 relative to activity levels experienced in the first quarter of 2019. A lesser contributor to our sales growth in the second quarter of 2019 was higher product pricing as a result of increases implemented in late 2018 and early 2019 to mitigate the impacts of general and tariff-related inflation in the marketplace. Sales of our fastener products grew 5.5% on a daily basis over the second quarter of 2018 and represented 34.5% of sales in the second quarter of 2019. Sales of our non-fastener products grew 9.5% on a daily basis over the second quarter of 2018 and represented 65.5% of sales in the second quarter of 2019."

  • 11

    Jul

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    Aug

FAST Fastenal
$31.23

-0.34 (-1.08%)

04/15/19
NRCS
04/15/19
DOWNGRADE
NRCS
Neutral
Fastenal downgraded to Neutral on valuation at Northcoast
Northcoast analyst Ryan Cieslak downgraded Fastenal to Neutral from Buy citing valuation.
05/07/19
WBLR
05/07/19
DOWNGRADE
WBLR
Market Perform
Fastenal downgraded to Market Perform from Outperform at William Blair
05/07/19
WBLR
05/07/19
NO CHANGE
WBLR
William Blair downgrades Fastenal, MSC Industrial, Wesco to Market Perform
William Blair analyst Ryan Merkel downgraded Fastenal (FAST), MSC Industrial (MSM) and Wesco (WCC) to Market Perform from Outperform while maintaining an Outperform rating on Systemax (SYX). With growth challenges rising distributor earnings estimates are too high for 2019 and 2020, Merkel tells investors in a research note. He believes "several industrial indicators are flashing yellow," including global trade volumes, durable goods orders, manufacturing inventory growth, and a strong U.S. dollar. Further, the analyst is concerned by trends in the automotive, oil and gas, mining, and machinery end-markets. Merkel believes stock valuations are risk given his "late-cycle concerns." He believes fair value for Fastenal is $72 per share, fair value for MSC Industrial is $75 per share and fair value for Wesco is $51 per share.
06/14/19
BUCK
06/14/19
NO CHANGE
Target $31
BUCK
Neutral
Fastenal estimates cut at Buckingham after management meetings
Buckingham analyst Robert Barry lowered his FY19 and FY20 EPS estimates for Fastenal by about 2% each to factor in April and May sales results and following his visit with management. Management's tone was more cautious and they said they are starting to think about stricter cost discipline, though they still view investing in IT and growth drivers as priorities, according to Barry. He trimmed his price target on Fastenal shares to $31 from $32 and keeps a Neutral rating on the stock.

TODAY'S FREE FLY STORIES

RACE

Ferrari

$168.55

2.05 (1.23%)

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RNLSY

Renault

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PUGOY

Peugeot

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NTES

NetEase

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FCAU

Fiat Chrysler

$14.18

0.045 (0.32%)

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DDAIF

Daimler AG

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BMWYY

BMW

$0.00

(0.00%)

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VALE

Vale

$13.99

0.175 (1.27%)

20:38
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Periodicals
Vale to pay $106.5M to Brazil workers impacted by dam incident, Reuters says »

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  • 01

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RNR

RenaissanceRe

$187.35

3.295 (1.79%)

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RenaissanceRe rating change at Deutsche Bank »

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  • 24

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JPM

JPMorgan

$113.87

-1.45 (-1.26%)

, JNJ

Johnson & Johnson

$134.67

0.38 (0.28%)

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Earnings
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FRC

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DPZ

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$269.97

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SNV

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FHN

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SON

Sonoco

$64.49

-0.69 (-1.06%)

20:04
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Downgrade
Sonoco rating change at BMO Capital »

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SON

Sonoco

$64.49

-0.69 (-1.06%)

19:59
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19:59
Downgrade
Sonoco rating change at BMO Capital »

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PLD

Prologis

$79.94

-0.09 (-0.11%)

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  • 16

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PLD

Prologis

$79.94

-0.09 (-0.11%)

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  • 16

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CVX

Chevron

$125.71

-0.27 (-0.21%)

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GPL

Great Panther Silver

$0.72

-0.0409 (-5.38%)

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PYPL

PayPal

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  • 24

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JBHT

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EYEN

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ARW

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ATEX

Anterix

$47.61

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RGEN

Repligen

$85.87

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MPW

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$18.28

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WTFC

Wintrust Financial

$69.99

-2.05 (-2.85%)

18:56
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DDAIF

Daimler AG

$0.00

(0.00%)

18:46
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Initiation
Daimler AG initiated at Goldman Sachs »

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PUGOY

Peugeot

$0.00

(0.00%)

18:46
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Initiation
Peugeot initiated at Goldman Sachs »

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FCAU

Fiat Chrysler

$14.18

0.045 (0.32%)

18:45
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Initiation
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  • 31

    Jul

TGI

Triumph Group

$23.07

-0.22 (-0.94%)

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  • 18

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TRQ

Turquoise Hill

$1.07

-0.02 (-1.83%)

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RIO

Rio Tinto

$61.50

0.77 (1.27%)

18:29
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  • 25

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