UBS Maintains a 'Neutral' on Fastenal (FAST); Looking Less Robust - Cutting Outlook
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Price: $51.11 +0.51%
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade FAST Now!
UBS maintains a 'Neutral' on Fastenal (NASDAQ: FAST) price target lowered from $53 to $49.
Analyst, Robert Barry, said, "Indicators we track show a U.S. manufacturing economy (FAST’s core end market) that remains healthy, though less robust than it was a year ago at this time. The ISM is firmly above 50, with the new orders component ticking up about 4 points to 58.2 in April. IP grew 5.2% y/y in Apr after +4.3% in 1Q, and mfg hours/OT hours continue to grow y/y. But we think international growth remains less frothy and the non-res market (~20% sales) continues to show only pockets of strength. Our 2012 sales growth estimate falls to 19% from 21%."
UBS lowers FY12 EPS estimate from $1.53 to $1.50 and FY13 from $1.95 to $1.90.
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 $45.43 yesterday, with a 52 week range of $29.14-$55.05.
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Analyst, Robert Barry, said, "Indicators we track show a U.S. manufacturing economy (FAST’s core end market) that remains healthy, though less robust than it was a year ago at this time. The ISM is firmly above 50, with the new orders component ticking up about 4 points to 58.2 in April. IP grew 5.2% y/y in Apr after +4.3% in 1Q, and mfg hours/OT hours continue to grow y/y. But we think international growth remains less frothy and the non-res market (~20% sales) continues to show only pockets of strength. Our 2012 sales growth estimate falls to 19% from 21%."
UBS lowers FY12 EPS estimate from $1.53 to $1.50 and FY13 from $1.95 to $1.90.
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 $45.43 yesterday, with a 52 week range of $29.14-$55.05.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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