Skip to main content

Market Overview

Fastenal Analysts Boost Their Forecasts After Upbeat Earnings

Share:
Fastenal Analysts Boost Their Forecasts After Upbeat Earnings

Fastenal Company (NASDAQ:FAST) reported better-than-expected second-quarter earnings on Monday.

Fastenal reported quarterly earnings of 29 cents per share which beat the analyst consensus estimate of 28 cents per share. The company reported quarterly sales of $2.08 billion which beat the analyst consensus estimate of $2.07 billion.

Gross margin rose slightly to 45.3% of net sales, driven by modest price/cost benefits and improved fastener margins tied to product expansion and supplier programs. Operating income increased to 21% of sales, up from 20.2% in the second quarter of 2024.

For 2025, net capital outlays are expected to range from $250 million to $270 million, below earlier guidance but above 2024 levels. The increase reflects distribution center upgrades, delayed IT initiatives, and hardware deployments.

Fastenal shares gained 4.2% to close at $45.07 on Monday.

These analysts made changes to their price targets on Fastenal following earnings announcement.

  • Stephens & Co. analyst Tommy Moll maintained Fastenal with an Equal-Weight rating and raised the price target from $40 to $45.
  • Baird analyst David Manthey maintained the stock with a Neutral and raised the price target from $43 to $47.

Considering buying FAST stock? Here’s what analysts think:

Read This Next:

Photo via Shutterstock

Latest Ratings for FAST

DateFirmActionFromTo
Mar 2022Wells FargoUpgradesUnderweightEqual-Weight
Jan 2022Morgan StanleyMaintainsUnderweight
Jan 2022Morgan StanleyMaintainsUnderweight

View More Analyst Ratings for FAST

View the Latest Analyst Ratings

 

Related Articles (FAST)

View Comments and Join the Discussion!

Posted-In: PT ChangesEarnings News Price Target Markets Analyst Ratings Trading Ideas

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com