Fastenal Co
FAST: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$38.00 | Kvyl | Rmsdjnnqd |
Fastenal Reports Solid Sales and Margin Growth in its Second-Quarter 2022 Results
We raised our fair value estimate for Fastenal to $45.50 from $44.50 previously to reflect strong sales and margin growth in the near term. We are now projecting 13% top-line growth for 2022 compared with 12% sales growth following the company’s first-quarter results. We raised our revenue expectations to reflect continued strength across many of Fastenal’s end markets, despite supply headwinds and increasing recession fears.