Fastenal Company [FAST] stock Downgrade by Wells Fargo analyst, price target now $45

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Fastenal Company [NASDAQ: FAST] stock went on a downward path that fall over -0.07% on Wednesday, amounting to a one-week price decrease of less than -0.56%. The company report on October 12, 2021 that Fastenal Company Reports 2021 Third Quarter Earnings.

Fastenal Company (Nasdaq:FAST), a leader in the wholesale distribution of industrial and construction supplies, announced its financial results for the quarter ended September 30, 2021. Except for share and per share information, or as otherwise noted below, dollar amounts are stated in millions. 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.

Over the last 12 months, FAST stock rose by 25.43%. The one-year Fastenal Company stock forecast points to a potential downside of -14.89. The average equity rating for FAST stock is currently 2.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $35.06 billion, with 574.97 million shares outstanding and 573.16 million shares in the current float. Compared to the average trading volume of 2.71M shares, FAST stock reached a trading volume of 2687220 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $53.00 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.

Wells Fargo have made an estimate for Fastenal Company shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on October 08, 2021. While these analysts kept the previous recommendation, Loop Capital raised their target price to Hold. The new note on the price target was released on August 03, 2021, representing the official price target for Fastenal Company stock. Previously, the target price had yet another drop from $53 to $48, while Morgan Stanley kept a Underweight rating on FAST stock.

The Average True Range (ATR) for Fastenal Company is set at 0.82, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 6.01. The Price to Book ratio for the last quarter was 11.80, with the Price to Cash per share for the same quarter was set at 0.44.

FAST Stock Performance Analysis:

Fastenal Company [FAST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.56. With this latest performance, FAST shares gained by 8.67% in over the last four-week period, additionally plugging by 15.43% over the last 6 months – not to mention a rise of 25.43% 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 75.24, with the RSI for the last a single of trading hit 76.42, and the three-weeks RSI is set at 72.09 for Fastenal Company [FAST]. The present Moving Average for the last 50 days of trading for this stock 56.01, while it was recorded at 61.00 for the last single week of trading, and 52.89 for the last 200 days.

Insight into Fastenal Company Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Fastenal Company [FAST] shares currently have an operating margin of +20.19 and a Gross Margin at +45.47. Fastenal Company’s Net Margin is presently recorded at +15.21.

Return on Total Capital for FAST is now 34.35, given the latest momentum, and Return on Invested Capital for the company is 26.82. Return on Equity for this stock inclined to 31.83, with Return on Assets sitting at 22.13. When it comes to the capital structure of this company, Fastenal Company [FAST] has a Total Debt to Total Equity ratio set at 23.79. Additionally, FAST Total Debt to Total Capital is recorded at 19.21, with Total Debt to Total Assets ending up at 16.40. Long-Term Debt to Equity for the company is recorded at 18.90, with the Long-Term Debt to Total Capital now at 15.27.

Reflecting on the efficiency of the workforce at the company, Fastenal Company [FAST] managed to generate an average of $42,185 per employee. Receivables Turnover for the company is 7.47 with a Total Asset Turnover recorded at a value of 1.45.Fastenal Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 4.20.

FAST Stock EPS

With the latest financial reports released by the company, Fastenal Company posted 0.34/share EPS, while the average EPS was predicted by analysts to be reported at 0.33/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.00%. 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 6.33%.

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Fastenal Company [FAST] Insider Position Details

There are presently around $27,953 million, or 79.40% of FAST stock, in the hands of institutional investors. The top three institutional holders of FAST stocks are: VANGUARD GROUP INC with ownership of 66,787,816, which is approximately -0.243% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 45,130,728 shares of the stock with an approximate value of $2.75 billion in FAST stocks shares; and BANK OF NEW YORK MELLON CORP, currently with $1.71 billion in FAST stock with ownership of nearly -4.921% of the company’s market capitalization.

Positions in Fastenal Company stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 442 institutional holders increased their position in Fastenal Company [NASDAQ:FAST] by around 20,948,244 shares. Additionally, 380 investors decreased positions by around 19,620,766 shares, while 192 investors held positions by with 418,505,308 shares. The mentioned changes placed institutional holdings at 459,074,318 shares, according to the latest SEC report filing. FAST stock had 70 new institutional investments in for a total of 5,195,672 shares, while 64 institutional investors sold positions of 1,689,303 shares during the same period.