Tuesday, September 29, 2020

Market cap of Fastenal Company [FAST] reaches 25.59B – now what?

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Fastenal Company [NASDAQ: FAST] surged by $0.35 during the normal trading session on Tuesday and reaching a high of $44.97 during the day while it closed the day at $44.68. The company report on August 19, 2020 that Fastenal Named the Official Maintenance, Repair and Operations Partner of the NHL.

Fastenal Company (Nasdaq: FAST) and the National Hockey League (NHL®) today announced a multiyear global partnership, naming Fastenal the official Maintenance, Repair and Operations (MRO) partner of the NHL through the 2023-24 season. The partnership is focused on creating an efficient and reliable MRO supply chain for ice rinks across North America.

MRO encompasses the wide-ranging products and services needed to keep facilities up and running. In hockey, this includes mechanical, electrical and plumbing products used to maintain rinks, sanitation and janitorial supplies required to keep facilities clean and safe, and power tools and accessories used by players and equipment managers to prep gear for game play.

Fastenal Company stock has also gained 2.22% of its value over the past 7 days. However, FAST stock has inclined by 6.86% in the 3 months of the year. Over the past six months meanwhile, it has gained 29.47% and gained 20.92% year-on date.

The market cap for FAST stock reached $25.59 billion, with 573.20 million shares outstanding and 571.76 million shares in the current float. Compared to the average trading volume of 3.79M shares, FAST reached a trading volume of 2639443 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Fastenal Company [FAST]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FAST shares is $47.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FAST stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Fastenal Company shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on September 08, 2020. The new note on the price target was released on September 03, 2020, representing the official price target for Fastenal Company stock. Previously, the target price had yet another raise to $50, while Deutsche Bank analysts kept a Buy rating on FAST stock.

The Average True Range (ATR) for Fastenal Company is set at 1.12, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 4.63. The Price to Book ratio for the last quarter was 9.19, with the Price to Cash per share for the same quarter was set at 0.35. Price to Free Cash Flow for FAST in the course of the last twelve months was 102.81 with Quick ratio for the last quarter at 1.90.

FAST stock trade performance evaluation

Fastenal Company [FAST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.22. With this latest performance, FAST shares dropped by -6.90% in over the last four-week period, additionally plugging by 29.47% over the last 6 months – not to mention a rise of 33.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FAST stock in for the last two-week period is set at 40.57, with the RSI for the last a single of trading hit 37.46, and the three-weeks RSI is set at 43.51 for Fastenal Company [FAST]. The present Moving Average for the last 50 days of trading for this stock 46.40, while it was recorded at 44.45 for the last single week of trading, and 39.22 for the last 200 days.

Fastenal Company [FAST]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fastenal Company [FAST] shares currently have an operating margin of +19.80 and a Gross Margin at +47.16. Fastenal Company’s Net Margin is presently recorded at +14.83.

Return on Total Capital for FAST is now 34.86, given the latest momentum, and Return on Invested Capital for the company is 26.56. Return on Equity for this stock inclined to 31.84, with Return on Assets sitting at 22.21. When it comes to the capital structure of this company, Fastenal Company [FAST] has a Total Debt to Total Equity ratio set at 22.16. Additionally, FAST Total Debt to Total Capital is recorded at 18.14, with Total Debt to Total Assets ending up at 15.54. Long-Term Debt to Equity for the company is recorded at 18.39, with the Long-Term Debt to Total Capital now at 15.05.

Reflecting on the efficiency of the workforce at the company, Fastenal Company [FAST] managed to generate an average of $36,035 per employee. Receivables Turnover for the company is 7.33 with a Total Asset Turnover recorded at a value of 1.50.Fastenal Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 4.10.

Earnings per share (EPS) analysis for Fastenal Company [FAST] stock

With the latest financial reports released by the company, Fastenal Company posted 0.37/share EPS, while the average EPS was predicted by analysts to be reported at 0.35/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FAST. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fastenal Company go to 9.10%.

Fastenal Company [FAST]: Insider Ownership positions

There are presently around $20,547 million, or 81.50% of FAST stock, in the hands of institutional investors. The top three institutional holders of FAST stocks are: VANGUARD GROUP INC with ownership of 68,705,845, which is approximately -3.377% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 45,737,441 shares of the stock with an approximate value of $2.04 billion in FAST stocks shares; and BANK OF NEW YORK MELLON CORP, currently with $1.4 billion in FAST stock with ownership of nearly 1.158% of the company’s market capitalization.

Positions in Fastenal Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 412 institutional holders increased their position in Fastenal Company [NASDAQ:FAST] by around 27,326,186 shares. Additionally, 378 investors decreased positions by around 42,390,149 shares, while 141 investors held positions by with 390,160,634 shares. The mentioned changes placed institutional holdings at 459,876,969 shares, according to the latest SEC report filing. FAST stock had 120 new institutional investments in for a total of 5,303,748 shares, while 67 institutional investors sold positions of 8,301,978 shares during the same period.

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