Fastenal Company

(NASDAQ Global Select)
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Somewhat Bullish +50

Fastenal Likely To Report Higher Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call - Benzinga

AI-generated analysis

πŸ“… Fastenal (NYSE: FAST) will release Q2 earnings before the opening bell on Monday, July 13.

πŸ’° Analysts expect quarterly earnings of $0.33 per share, up from $0.29 in the year-ago period.

πŸ“ˆ Consensus revenue estimate for Q2 is set at $2.34 billion versus $2.08 billion last year.

πŸš€ First-quarter net sales reached $2.20 billion, a 12.4% year-over-year increase beating estimates.

πŸ“‰ Stock price closed at $47.40 on Monday with a 0.6% gain ahead of the earnings release.

πŸ” DA Davidson analyst Chris Dankert initiated coverage with a Neutral rating and $46 price target.

🏦 Barclays analyst Guy Hardwick maintained an Equal-Weight rating and raised the price target to $46.

πŸ“‰ Baird analyst David Manthey maintained an Outperform rating but cut the price target from $52 to $50.

πŸ”Ό Jefferies analyst Stephen Volkmann upgraded the stock from Hold to Buy with a $52 price target.

🏦 JP Morgan analyst Patrick Baumann maintained a Neutral rating and raised the price target to $46.

Bullish Signals
  • Fastenal reported first-quarter net sales of $2.20 billion, which was a 12.4% year-over-year increase and beat analyst estimates.
  • Analysts expect Q2 earnings per share to reach $0.33, an improvement over the previous year's $0.29.
  • Jefferies upgraded Fastenal from Hold to Buy while raising the price target to $52, indicating strong confidence in the company's prospects.
  • JP Morgan raised its price target for Fastenal from $41 to $46, reflecting a positive outlook on the stock.
  • Barclays increased its price target for Fastenal from $45 to $46 while maintaining an Equal-Weight rating.
Risk Factors
  • Baird analyst David Manthey cut the price target for Fastenal from $52 to $50, suggesting some caution regarding valuation or growth expectations.
  • DA Davidson initiated coverage with a Neutral rating and a $46 price target, indicating a lack of immediate bullish conviction.
  • JP Morgan maintains a Neutral rating on Fastenal, signaling that analysts see the stock as fairly valued without significant upside potential.
Full Analysis
Fastenal Company (NYSE: FAST) is scheduled to release its second-quarter earnings report before the opening bell on Monday, July 13. Analysts currently expect the industrial and construction supplies distributor to report quarterly earnings of 33 cents per share, representing an increase from the 29 cents reported in the year-ago period. The consensus revenue estimate for the upcoming quarter stands at $2.34 billion, compared to last year's reported figure of $2.08 billion. Fastenal previously posted first-quarter net sales of $2.20 billion on April 13, which marked a 12.4% year-over-year increase and exceeded analyst estimates of $2.199 billion. Shares of Fastenal gained 0.6% to close at $47.40 on Monday. Market attention is focused on the company's upcoming earnings call, where analysts will likely provide updated guidance and commentary on the business outlook following the recent strong first-quarter performance.