NEW YORK (TheStreet) -- Fastenal (FAST) shares are down -2.3% to $47.03 in pre-market trading Friday following the release of the company's second quarter earnings results.
The construction and industrial supply wholesaler reported earnings of 44 cents per diluted share, in line with Capital IQ consensus estimates.
Revenue for the quarter was up 12.1% over the same period last year to $949.9 million, missing analysts estimates of $952.45 million.
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TheStreet Ratings team rates FASTENAL CO as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate FASTENAL CO (FAST) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value." STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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