UBS Cuts Price Target and Estimates on Fastenal (FAST); Weaker Manufacturing 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 of $41.00 (from $39.00).
Analyst, Robert Barry, said, "We see evidence the U.S. manufacturing economy remains quite good, but with more signs of slowing. We think moderating monthly sales growth rates at FAST and MSM Industrial (NYSE: MSM), weaker regional manufacturing surveys (NY, Philly, Richmond), still-positive but declining y/y growth rates in durables orders, declining order trends at Kennametal (NYSE: KMT), and m/m easing in IP growth warrant a tempered outlook, in our view."
FY12 EPS estimate cut from $1.50 to $1.45 and FY13 from $1.90 to $1.76.
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 $40.31 yesterday, with a 52 week range of $29.14-$55.05.
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Analyst, Robert Barry, said, "We see evidence the U.S. manufacturing economy remains quite good, but with more signs of slowing. We think moderating monthly sales growth rates at FAST and MSM Industrial (NYSE: MSM), weaker regional manufacturing surveys (NY, Philly, Richmond), still-positive but declining y/y growth rates in durables orders, declining order trends at Kennametal (NYSE: KMT), and m/m easing in IP growth warrant a tempered outlook, in our view."
FY12 EPS estimate cut from $1.50 to $1.45 and FY13 from $1.90 to $1.76.
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 $40.31 yesterday, with a 52 week range of $29.14-$55.05.
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