Fastenal Company [NASDAQ: FAST] gained 1.20% on the last trading session, reaching $49.58 price per share at the time. The company report on January 19, 2023 that Fastenal Company Reports 2022 Annual and Fourth 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 and year ended December 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. References to daily sales rate (DSR) change may reflect either growth (positive) or contraction (negative) for the applicable period.
Fastenal Company represents 573.00 million in outstanding shares, while the company has a total market value of $27.12 billion with the latest information. FAST stock price has been found in the range of $48.37 to $49.655.
If compared to the average trading volume of 3.45M shares, FAST reached a trading volume of 4436653 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 $50.03 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 3.10. 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.
Jefferies have made an estimate for Fastenal Company shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 17, 2022. The new note on the price target was released on July 14, 2022, representing the official price target for Fastenal Company stock. Previously, the target price had yet another raise from $50 to $58, while Wells Fargo kept a Equal Weight rating on FAST stock. On October 08, 2021, analysts decreased their price target for FAST shares from 50 to 45.
The Average True Range (ATR) for Fastenal Company is set at 1.30, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 3.89. The Price to Book ratio for the last quarter was 8.98, with the Price to Cash per share for the same quarter was set at 0.42.
Trading performance analysis for FAST stock
Fastenal Company [FAST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.82. With this latest performance, FAST shares gained by 3.42% in over the last four-week period, additionally plugging by 2.65% over the last 6 months – not to mention a drop of -12.28% 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 56.59, with the RSI for the last a single of trading hit 61.20, and the three-weeks RSI is set at 53.93 for Fastenal Company [FAST]. The present Moving Average for the last 50 days of trading for this stock 49.57, while it was recorded at 48.38 for the last single week of trading, and 50.66 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 +20.82 and a Gross Margin at +46.07. Fastenal Company’s Net Margin is presently recorded at +15.57.
Return on Equity for this stock inclined to 35.03, with Return on Assets sitting at 24.57.
Fastenal Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 4.00.
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 $22,322 million, or 79.30% of FAST stock, in the hands of institutional investors. The top three institutional holders of FAST stocks are: VANGUARD GROUP INC with ownership of 69,012,006, which is approximately 0.083% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 44,836,648 shares of the stock with an approximate value of $2.22 billion in FAST stocks shares; and STATE STREET CORP, currently with $1.39 billion in FAST stock with ownership of nearly 2.254% of the company’s market capitalization.
Positions in Fastenal Company stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 424 institutional holders increased their position in Fastenal Company [NASDAQ:FAST] by around 22,422,729 shares. Additionally, 462 investors decreased positions by around 21,054,381 shares, while 183 investors held positions by with 406,739,338 shares. The mentioned changes placed institutional holdings at 450,216,448 shares, according to the latest SEC report filing. FAST stock had 65 new institutional investments in for a total of 4,801,922 shares, while 68 institutional investors sold positions of 1,564,257 shares during the same period.