Argus Downgrades Fastenal (FAST) to Hold

October 14, 2016 7:44 AM EDT
Get Alerts FAST Hot Sheet
Price: $38.30 -1.31%

Rating Summary:
    1 Buy, 17 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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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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