Argus Downgrades Fastenal (FAST) to Hold
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Price: $51.49 +1.46%
Rating Summary:
8 Buy, 21 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 8 | New: 13
Rating Summary:
8 Buy, 21 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 8 | New: 13
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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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