Morgan Keegan Reports Fastenal 2011-2013 Estimates Updated

According to Morgan Keegan, Fastenal FAST 2011-2013 estimates are updated. Morgan Keegan reported that Fastenal will report Q1:11 EPS on Tuesday April 12. “We are estimating $0.52, levels modestly above the $0.51 consensus. The potential for stronger March month revenues could add another penny upside to our view. We are modestly raising 2011, 2012 and 2013 forecasts by $0.01, $0.03 and $0.04, respectively. While we are in-line with the FY2011 consensus, our 2012 and 2013 numbers are below the mean. Our model framework assumes no incremental price inflation and only modest gross margin increases; utilizing trends comparable to 2004-2008 could push “peak” 2014 numbers to $3.75-$4.00 (vs. 2008 peak of $1.91).” Fastenal closed yesterday at $66.74.