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Fastenal

$35.43

-0.93 (-2.56%)

08:53
10/15/19
10/15
08:53
10/15/19
08:53

Fastenal price target raised to $41 from $39 at Argus

Argus analyst John Eade raised his price target on Fastenal to $41 and kept his Buy rating after its Q3 earnings beat while also citing the management's confidence in the business based on its four dividend hikes over the past two years. The analyst notes that the stock price has been volatile recently amid expectations for increased government spending on infrastructure projects against negative tariff-related headlines, but believes that the company can generate mid-single-digit sales growth and high single-digit EPS growth over the long term.

  • 23

    Oct

FAST Fastenal
$35.43

-0.93 (-2.56%)

10/14/19
SPHN
10/14/19
DOWNGRADE
Target $37
SPHN
Equal Weight
Fastenal downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Blake Hirschman downgraded Fastenal to Equal Weight from Overweight with a price target of $37, up from $36. The analyst continues to see the company as the industrial distributor best positioned to combat a softening end market environment. However, with the stock sitting near all-time highs, and given his expectation of slowdown in the company's core manufacturing end market, he struggles to find "meaningful near-to-medium term upside" in the stock from current levels.
10/14/19
RAJA
10/14/19
DOWNGRADE
RAJA
Market Perform
Fastenal double downgraded to Market Perform at Raymond James
Raymond James analyst Samuel Darkatsh double downgraded to Market Perform from Strong Buy citing valuation with the shares approaching his prior $37 price target. Darkatsh cites three factors for the downgrade: Softening broad demand, including weak railcar shipments; that valuation now implies implies bullish market assumptions for long-term organic growth rates for mature branches; and that the stock's historical correlation with the company's ROTNA now suggests limited further upside. The analyst now sees 2019 EPS of $1.39 from $1.38 prior and continues to see 2020 EPS of $1.49.
10/14/19
10/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Fastenal (FAST) downgraded to Market Perform from Strong Buy at Raymond James and to Equal Weight from Overweight at Stephens. 2. AMC Networks (AMCX) downgraded to Underperform from In Line at Evercore ISI with analyst David Joyce saying given his industry view of accelerating cord-cutting trends, the analyst views AMC's reward/risk tradeoff as unfavorable at current share levels. 3. Delta Air Lines (DAL) downgraded to Equal Weight from Overweight at Stephens with analyst Jack Atkins saying investors are "understandably frustrated" that despite a highly favorable operating environment this year, Delta is unable to more aggressively drive yields higher. 4. Toll Brothers (TOL) downgraded to Neutral from Positive at Susquehanna with analyst Jack Micenko saying the shares have outperformed the S&P and are now at the high end of their historical average forward P/E. 5. Canopy Growth (CGC) and Hexo (HEXO) downgraded to Neutral from Buy at Seaport Global. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/19
WOLF
10/14/19
DOWNGRADE
WOLF
Underperform
Fastenal downgraded to Underperform from Peer Perform at Wolfe Research
Wolfe Research analyst Nigel Coe noted that Fastenal's 17% rally on Friday following the company's Q3 report was the second biggest one-day move in the stock's history. Following the move, and given that he continues to see downside risk to both its daily sales and earnings against elevated expectations, Coe cut his rating on the shares to Underperform from Peer Perform.

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$NYE

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DELL

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GSX

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BKE

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SSI

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CC

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