Top Wall Street Forecasters Revamp Fastenal Price Expectations Ahead Of Q1 Earnings

Core Viewpoint - Fastenal Company is set to release its first-quarter earnings results on April 11, with expectations of stable earnings per share and revenue growth compared to the previous year [1]. Financial Performance - Analysts anticipate Fastenal will report quarterly earnings of 52 cents per share, unchanged from the same period last year [1]. - The projected quarterly revenue is $1.95 billion, reflecting an increase from $1.9 billion a year earlier [1]. - In a previous report on January 17, Fastenal's sales grew by 3.7% year-over-year to $1.825 billion, which was below the consensus estimate of $1.844 billion [2]. Stock Performance - Fastenal shares experienced a 7.4% increase, closing at $76.47 on Wednesday [3]. Analyst Ratings - William Blair analyst Ryan Merkel upgraded Fastenal from Market Perform to Outperform on March 10, 2025, with a 65% accuracy rate [7]. - Jefferies analyst Stephen Volkmann maintained a Hold rating but raised the price target from $74 to $85 on December 6, 2024, with a 71% accuracy rate [7]. - UBS analyst Amit Mehrotra assumed a Neutral rating and increased the price target from $71 to $88 on November 13, 2024, achieving a 75% accuracy rate [7]. - Morgan Stanley analyst Chris Snyder maintained an Equal-Weight rating and raised the price target from $72 to $76 on October 14, 2024, with a 66% accuracy rate [7]. - Baird analyst David Manthey maintained a Neutral rating and increased the price target from $67 to $80 on October 14, 2024, with a 74% accuracy rate [7].