Baird analyst David Manthey downgraded Fastenal Co (NASDAQ: FAST) to Neutral from Outperform, with a price target of $48 (an upside of 1%). The analyst downgraded Pool Corp (NASDAQ: POOL) to 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
Fastenal Co (NASDAQ: FAST) reported second-quarter FY22 sales growth of 18% year-over-year to $1.78 billion, marginally below the consensus of $1.79 billion. Fastenal's net daily sales also increased by 18% Y/Y. Digital Footprint represented 47.9% of sales in Q2, an increase from 41.4% in 2Q21. Gross profit improved by 18.1% to $827.6 million, while the gross margin was flat at 46.5%. The operating income increased by 20.7% Y/Y to $383.4 million, and the margin expanded 50 bps to 21.6%. Net earn
What to watch in markets on Wednesday, July 13, 2022.