New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 11, 2014
11:47 EDTHDS, GWW, FASTFastenal slips despite better than expected Q1 sales
Shares of industrial and construction supply retailer Fastenal (FAST) are lower after the company reported first quarter earnings per share which matched analysts' consensus and first quarter revenue that surpassed analysts' expectations. WHAT'S NEW: Fastenal's first quarter earnings per share of 38c mirrored analysts' consensus, while its revenue of $876.5M beat analysts' consensus of about $870M. Fastenal said that first quarter daily sales increased 8.7%. WHAT'S NOTABLE: During the company's earnings conference call, Fastenal said its business in January and February were "heavily" impacted by the winter weather. The company said it took a step back in the first quarter, but is very focused on 23% pre-tax growth. Fastenal said heavy equipment was very challenging for the company through FY13, though it is now seeing some nominal improvement in that business. If the situation is right, the company said it is open to future M&A opportunities. OTHERS TO WATCH: Other industrial products distributors include W.W. Grainger (GWW) and HD Supply (HDS). PRICE ACTION: During morning trading, shares of Fastenal slipped 95c or $1.87% to $49.75. Year-to-date, the stock is up a bit more than 4%.
News For FAST;GWW;HDS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 26, 2015
08:32 EDTGWWGrainger management to meet with Stephens
Meetings to be held in the Mid-Atlantic area September 2-3 hosted by Stephens.
08:15 EDTFASTEmerson reports supports estimate for muted Fastenal growth, says William Blair
Subscribe for More Information
August 24, 2015
09:45 EDTFAST, GWWOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
07:00 EDTGWWGrainger downgraded to Neutral from Outperform at Baird
Baird downgraded Grainer to Neutral from Overweight as U.S. economic trends are progressively later-cycle, raising overall risk profiles for distributors with industrial exposure. Baird lowered its price target to $240 from $258 on Grainger shares.
06:59 EDTFASTFastenal downgraded to Neutral from Outperform at Baird
Baird downgraded Fastenal to Neutral from Outperform as US economic trends are progressively later-cycle, raising overall risk profiles for distributors with industrial exposure. Baird lowered its price target to $44 from $45 on Fastenal shares.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use