Argus Downgrades Fastenal (FAST) to Hold

October 14, 2016 7:44 AM EDT
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Price: $51.24 +1.36%

Rating Summary:
    4 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Argus downgraded Fastenal (NASDAQ: FAST) from Buy to Hold on a weaker near-term outlook.

The firm is again lowering EPS forecasts for this year and next based on expectations for narrower margins.

The analyst will look for a turnaround in sales growth or margins, or a nonfundamental selloff to near $30, as potential upgrade triggers.

For an analyst ratings summary and ratings history on Fastenal click here. For more ratings news on Fastenal click here.

Shares of Fastenal closed at $38.34 yesterday.

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