UBS Maintains a 'Neutral' on Fastenal (FAST); Raising Numbers on Favorable Outlook
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Price: $51.26 +1.18%
Rating Summary:
8 Buy, 21 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 21 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Neutral' on Fastenal (NASDAQ: FAST) price target raised from $49 to $53.
UBS analyst said, "We assume March sales grow at 19%, reflecting a similar daily sales pace vs. Jan/Feb adjusted for a modestly tougher comp, bringing our 1Q sales growth estimate to 22% y/y. More broadly, we think continued signs of strength in the U.S. manufacturing economy (ISM firmly >50, durables orders up y/y) plus FAST-specific initiatives (ongoing, significant sales force expansion, signs of growing momentum in vending, ongoing manufacturing, strong international growth) can sustain low-20s top line growth for some time."
UBS raises FY12 EPS estimate from $1.53 to $1.57 and FY13 from $1.85 to $1.96.
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 $53.35 yesterday.
UBS analyst said, "We assume March sales grow at 19%, reflecting a similar daily sales pace vs. Jan/Feb adjusted for a modestly tougher comp, bringing our 1Q sales growth estimate to 22% y/y. More broadly, we think continued signs of strength in the U.S. manufacturing economy (ISM firmly >50, durables orders up y/y) plus FAST-specific initiatives (ongoing, significant sales force expansion, signs of growing momentum in vending, ongoing manufacturing, strong international growth) can sustain low-20s top line growth for some time."
UBS raises FY12 EPS estimate from $1.53 to $1.57 and FY13 from $1.85 to $1.96.
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 $53.35 yesterday.
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