Argus Downgrades Fastenal (FAST) to Hold

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.

You May Also Be Interested In

• William Blair Downgrades Enovix Corporation (ENVX) to Market Perform
• MGM Resorts (MGM) PT Raised to $55 at Argus
• Benchmark Reiterates Speculative Buy Rating on Milestone Scientific (MLSS)