Fastenal Company [FAST] Revenue clocked in at $6.30 billion, down -22.56% YTD: What’s Next?


Fastenal Company [NASDAQ: FAST] jumped around 0.48 points on Wednesday, while shares priced at $49.61 at the close of the session, up 0.98%. The company report on April 13, 2022 that Fastenal Company Reports 2022 First Quarter Earnings.

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Fastenal Company (Nasdaq:FAST), a leader in the wholesale distribution of industrial and construction supplies, today announced its financial results for the quarter ended March 31, 2022. 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.

Fastenal Company stock is now -22.56% down from its year-to-date (YTD) trading value. FAST Stock saw the intraday high of $50.16 and lowest of $48.525 per share. The company’s 52-week high price is 64.75, which means current price is +2.24% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 3.31M shares, FAST reached a trading volume of 3765792 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $58.75 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 Equal Weight, with their previous recommendation back on March 08, 2022. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $50 to $45. The new note on the price target was released on October 08, 2021, representing the official price target for Fastenal Company stock. Previously, the target price had yet another raise to $52, while Loop Capital analysts kept a Hold rating on FAST stock. On June 15, 2021, analysts decreased their price target for FAST shares from 53 to 48.

The Average True Range (ATR) for Fastenal Company is set at 1.45, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 4.61. The Price to Book ratio for the last quarter was 9.09, with the Price to Cash per share for the same quarter was set at 0.40.

How has FAST stock performed recently?

Fastenal Company [FAST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.81. With this latest performance, FAST shares dropped by -5.88% in over the last four-week period, additionally sinking by -21.29% over the last 6 months – not to mention a drop of -2.74% 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 34.97, with the RSI for the last a single of trading hit 30.06, and the three-weeks RSI is set at 37.95 for Fastenal Company [FAST]. The present Moving Average for the last 50 days of trading for this stock 54.44, while it was recorded at 50.73 for the last single week of trading, and 56.32 for the last 200 days.

Fastenal Company [FAST]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fastenal Company [FAST] shares currently have an operating margin of +20.25 and a Gross Margin at +43.54. Fastenal Company’s Net Margin is presently recorded at +15.39.

Return on Equity for this stock inclined to 32.03, with Return on Assets sitting at 22.39.

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 analysis for Fastenal Company [FAST]

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%.

Insider trade positions for Fastenal Company [FAST]

There are presently around $22,335 million, or 78.90% of FAST stock, in the hands of institutional investors. The top three institutional holders of FAST stocks are: VANGUARD GROUP INC with ownership of 68,565,691, which is approximately 2.424% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 46,254,527 shares of the stock with an approximate value of $2.27 billion in FAST stocks shares; and STATE STREET CORP, currently with $1.34 billion in FAST stock with ownership of nearly -3.698% of the company’s market capitalization.

Positions in Fastenal Company stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 474 institutional holders increased their position in Fastenal Company [NASDAQ:FAST] by around 26,355,171 shares. Additionally, 449 investors decreased positions by around 22,320,610 shares, while 207 investors held positions by with 405,936,659 shares. The mentioned changes placed institutional holdings at 454,612,440 shares, according to the latest SEC report filing. FAST stock had 78 new institutional investments in for a total of 3,837,542 shares, while 93 institutional investors sold positions of 2,892,838 shares during the same period.