Fastenal Company [NASDAQ: FAST] gained 1.27% on the last trading session, reaching $48.50 price per share at the time. The company report on July 13, 2022 that Fastenal Company Reports 2022 Second 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 June 30, 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 represents 575.56 million in outstanding shares, while the company has a total market value of $27.47 billion with the latest information. FAST stock price has been found in the range of $48.00 to $48.539.
If compared to the average trading volume of 3.44M shares, FAST reached a trading volume of 3747917 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $48.43 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.
Robert W. Baird have made an estimate for Fastenal Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 14, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $50 to $58. The new note on the price target was released on March 08, 2022, representing the official price target for Fastenal Company stock. Previously, the target price had yet another drop from $50 to $45, while Wells Fargo kept a Underweight rating on FAST stock.
The Average True Range (ATR) for Fastenal Company is set at 1.35, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 4.18. The Price to Book ratio for the last quarter was 8.88, with the Price to Cash per share for the same quarter was set at 0.41.
Trading performance analysis for FAST stock
Fastenal Company [FAST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.98. With this latest performance, FAST shares dropped by -0.47% in over the last four-week period, additionally sinking by -18.07% over the last 6 months – not to mention a drop of -9.35% 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 42.33, with the RSI for the last a single of trading hit 43.07, and the three-weeks RSI is set at 42.36 for Fastenal Company [FAST]. The present Moving Average for the last 50 days of trading for this stock 51.19, while it was recorded at 47.71 for the last single week of trading, and 55.86 for the last 200 days.
Fastenal Company [FAST]: A deeper dive into fundamental analysis
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.
Fastenal Company [FAST]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at Fastenal Company [FAST]
There are presently around $21,762 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 $2.22 billion in FAST stocks shares; and STATE STREET CORP, currently with $1.31 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 July and at the time of the July reporting period, where 465 institutional holders increased their position in Fastenal Company [NASDAQ:FAST] by around 28,235,804 shares. Additionally, 441 investors decreased positions by around 22,521,777 shares, while 204 investors held positions by with 403,653,973 shares. The mentioned changes placed institutional holdings at 454,411,554 shares, according to the latest SEC report filing. FAST stock had 73 new institutional investments in for a total of 6,626,579 shares, while 85 institutional investors sold positions of 2,868,219 shares during the same period.