Friday, November 27, 2020

Fastenal Company [FAST] gain 21.79% so far this year. What now?

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Fastenal Company [NASDAQ: FAST] closed the trading session at $45.00 on 10/23/20. The day’s price range saw the stock hit a low of $44.035, while the highest price level was $45.10. The company report on October 13, 2020 that Fastenal Company Reports 2020 Third Quarter Earnings.

Fastenal Company (Nasdaq:FAST), a leader in the wholesale distribution of industrial and construction supplies, today announced its financial results for the quarter ended September 30, 2020. Except for share and per share information, or as otherwise noted below, dollar amounts are stated in millions. Share and per share information in this release, and in the financial statements attached to this release, has been adjusted to reflect the two-for-one stock split effective at the close of business on May 22, 2019. Throughout this document, percentage and dollar calculations, which are based on non-rounded dollar values, may not be able to be recalculated using the dollar values included in this document due to the rounding of those dollar values.


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PERFORMANCE SUMMARY.

The stocks have a year to date performance of 21.79 percent and weekly performance of -0.57 percent. The stock has been moved at 22.13 percent over the last six months. The stock has performed 1.63 percent around the most recent 30 days and changed -2.64 percent over the most recent 3-months.

If compared to the average trading volume of 3.39M shares, FAST reached to a volume of 2532206 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 $46.50 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.

Stephens have made an estimate for Fastenal Company shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 16, 2020. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on September 16, 2020, representing the official price target for Fastenal Company stock.

The Average True Range (ATR) for Fastenal Company is set at 1.18, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 4.55. The Price to Book ratio for the last quarter was 8.95, with the Price to Cash per share for the same quarter was set at 0.59. Price to Free Cash Flow for FAST in the course of the last twelve months was 86.95 with Quick ratio for the last quarter at 2.20.

FAST stock trade performance evaluation

Fastenal Company [FAST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.57. With this latest performance, FAST shares gained by 1.63% in over the last four-week period, additionally plugging by 22.13% over the last 6 months – not to mention a rise of 21.03% 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 47.73, with the RSI for the last a single of trading hit 49.68, and the three-weeks RSI is set at 48.74 for Fastenal Company [FAST]. The present Moving Average for the last 50 days of trading for this stock 45.95, while it was recorded at 44.50 for the last single week of trading, and 40.42 for the last 200 days.

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

Fastenal Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 4.40.

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

With the latest financial reports released by the company, Fastenal Company posted 0.31/share EPS, while the average EPS was predicted by analysts to be reported at 0.31/share. 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 7.40%.

Fastenal Company [FAST]: Insider Ownership positions

There are presently around $20,254 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 $2.06 billion in FAST stocks shares; and BANK OF NEW YORK MELLON CORP, currently with $1.41 billion in FAST stock with ownership of nearly 1.158% of the company’s market capitalization.

399 institutional holders increased their position in Fastenal Company [NASDAQ:FAST] by around 26,995,538 shares. Additionally, 379 investors decreased positions by around 40,219,441 shares, while 143 investors held positions by with 382,879,891 shares. The mentioned changes placed institutional holdings at 450,094,870 shares, according to the latest SEC report filing. FAST stock had 110 new institutional investments in for a total of 5,308,477 shares, while 61 institutional investors sold positions of 6,287,288 shares during the same period.

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