Fastenal Company [FAST] is 10.69% higher this YTD. Is it still time to buy?

Fastenal Company [NASDAQ: FAST] jumped around 0.82 points on Thursday, while shares priced at $52.38 at the close of the session, up 1.59%. The company report on March 8, 2023 that Fastenal Names New Executive VP of Human Resources.

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Fastenal Company (Nasdaq: FAST) has appointed Noelle J. Oas, JD, as executive vice president of human resources (HR). In her new role, she will oversee several teams that fall under the human resources umbrella: benefits, insurance, payroll, diversity and compliance, and the Fastenal School of Business (the company’s employee training and development division). Ms. Oas is in her eighth year with Fastenal, having previously served as director of compliance. Prior to joining Fastenal, she worked in employment law litigation.

Ms. Oas is succeeding Reyne K. Wisecup, who recently retired after 34 years with the company. Ms. Wisecup’s career exemplified two central themes of the Fastenal story: opportunity and growth. She started as a receptionist in 1988, when the company had just 375 employees and 75 branches. With a willingness to learn and embrace new challenges, she gravitated to the human resources area and took on increasing responsibilities. She eventually went on to lead HR functions for the company as it grew from a U.S. Midwest-centered business to a global organization with 22,000-plus employees spread across 26 countries. In 2000, Reyne was elected to Fastenal’s board of directors, and she will continue to serve as a board member.

Fastenal Company stock is now 10.69% up from its year-to-date (YTD) trading value. FAST Stock saw the intraday high of $52.66 and lowest of $51.05 per share. The company’s 52-week high price is 60.74, which means current price is +14.62% above from all time high which was touched on 02/02/23.

Compared to the average trading volume of 3.28M shares, FAST reached a trading volume of 3332780 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 $50.59 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 1.25, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 4.33. The Price to Book ratio for the last quarter was 9.45, with the Price to Cash per share for the same quarter was set at 0.40. Price to Free Cash Flow for FAST in the course of the last twelve months was 541.03 with Quick ratio for the last quarter at 1.80.

How has FAST stock performed recently?

Fastenal Company [FAST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.54. With this latest performance, FAST shares dropped by -0.68% in over the last four-week period, additionally plugging by 9.31% over the last 6 months – not to mention a drop of -6.11% 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 52.63, with the RSI for the last a single of trading hit 52.31, and the three-weeks RSI is set at 53.11 for Fastenal Company [FAST]. The present Moving Average for the last 50 days of trading for this stock 51.05, while it was recorded at 51.90 for the last single week of trading, and 50.20 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 +20.82 and a Gross Margin at +43.69. 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 1.80 and a Current Ratio set at 4.00.

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 $24,163 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 69,697,102, which is approximately 0.993% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 45,016,302 shares of the stock with an approximate value of $2.36 billion in FAST stocks shares; and STATE STREET CORP, currently with $1.48 billion in FAST stock with ownership of nearly 0.786% of the company’s market capitalization.

Positions in Fastenal Company stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 449 institutional holders increased their position in Fastenal Company [NASDAQ:FAST] by around 26,802,805 shares. Additionally, 477 investors decreased positions by around 18,435,796 shares, while 177 investors held positions by with 416,061,756 shares. The mentioned changes placed institutional holdings at 461,300,357 shares, according to the latest SEC report filing. FAST stock had 107 new institutional investments in for a total of 8,414,727 shares, while 68 institutional investors sold positions of 4,756,107 shares during the same period.


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