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Baird Downgrades Industrial Distribution Trio To Neutral Rating

·1 分鐘文章
  • Baird analyst David Manthey downgraded Fastenal Co (NASDAQ: FASTto Neutral from Outperform, with a price target of $48 (an upside of 1%).

  • The analyst downgraded Pool Corp (NASDAQ: POOLto Neutral from Outperform, with a price target of $398 (an upside of 8.5%).

  • The analyst downgraded SiteOne Landscape Supply Inc (NYSE: SITE) to Neutral from Outperform, with a price target of $129 (an upside of 8%).

  • The analyst lowered his estimates on the group to reflect deflation and the garden-variety 2023 recession.

  • Also ReadFastenal Shares Slide After Q2 Results, Clocks 18% Sales Growth

  • Manthey calls the trio the "highest-valuation stocks" in his industrial distribution coverage.

  • Meanwhile, the analyst still is broadly positive on the group, with ten out of 14 stocks still rated Outperform.

  • Price Action: FAST shares trading higher by 1.37% at $47.41, SITE lower by 0.82% at $119.40, and POOL lower by 0.32% at $366.74 on the last check Thursday.

Latest Ratings for FAST

Date

Firm

Action

From

To

Mar 2022

Wells Fargo

Upgrades

Underweight

Equal-Weight

Jan 2022

Morgan Stanley

Maintains

Underweight

Jan 2022

Morgan Stanley

Maintains

Underweight

View More Analyst Ratings for FAST

View the Latest Analyst Ratings

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