Fastenal Company [FAST] Is Currently 0.30 below its 200 Period Moving Avg: What Does This Mean?

Fastenal Company [NASDAQ: FAST] gained 0.30% or 0.16 points to close at $54.01 with a heavy trading volume of 2511320 shares. The company report on April 13, 2023 at 6:50 AM that Fastenal Company Reports 2023 First Quarter Earnings.

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, 2023. 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.

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It opened the trading session at $53.90, the shares rose to $54.02 and dropped to $53.37, the range by which the price of stock traded the whole day. The daily chart for FAST points out that the company has recorded 17.16% gains over the past six months. However, it is still -23.51% lower than its most recent low trading price.

If we look at the average trading volume of 3.40M shares, FAST reached to a volume of 2511320 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 $53.48 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.

Stifel have made an estimate for Fastenal Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 04, 2023. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on October 17, 2022, representing the official price target for Fastenal Company stock. Previously, the target price had yet another raise to $48, while Robert W. Baird analysts kept a Neutral rating on FAST stock. On March 08, 2022, analysts increased their price target for FAST shares from 50 to 58.

The Average True Range (ATR) for Fastenal Company is set at 1.18, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 4.25. The Price to Book ratio for the last quarter was 9.75, 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] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.76. With this latest performance, FAST shares gained by 1.62% in over the last four-week period, additionally plugging by 17.16% over the last 6 months – not to mention a drop of -1.71% 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 60.39, with the RSI for the last a single of trading hit 65.22, and the three-weeks RSI is set at 58.00 for Fastenal Company [FAST]. The present Moving Average for the last 50 days of trading for this stock 52.53, while it was recorded at 53.40 for the last single week of trading, and 50.35 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 +43.69. Fastenal Company’s Net Margin is presently recorded at +15.57.

Return on Total Capital for FAST is now 38.03, given the latest momentum, and Return on Invested Capital for the company is 30.19. Return on Equity for this stock inclined to 35.03, with Return on Assets sitting at 24.57. When it comes to the capital structure of this company, Fastenal Company [FAST] has a Total Debt to Total Equity ratio set at 25.36. Additionally, FAST Total Debt to Total Capital is recorded at 20.23, with Total Debt to Total Assets ending up at 17.63. Long-Term Debt to Equity for the company is recorded at 16.07, with the Long-Term Debt to Total Capital now at 12.82.

Reflecting on the efficiency of the workforce at the company, Fastenal Company [FAST] managed to generate an average of $48,553 per employee. Receivables Turnover for the company is 7.30 with a Total Asset Turnover recorded at a value of 1.58.Fastenal Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 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 $24,733 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 $2.43 billion in FAST stocks shares; and STATE STREET CORP, currently with $1.52 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 457 institutional holders increased their position in Fastenal Company [NASDAQ:FAST] by around 26,590,109 shares. Additionally, 453 investors decreased positions by around 18,002,930 shares, while 188 investors held positions by with 413,346,256 shares. The mentioned changes placed institutional holdings at 457,939,295 shares, according to the latest SEC report filing. FAST stock had 114 new institutional investments in for a total of 7,982,409 shares, while 63 institutional investors sold positions of 4,559,863 shares during the same period.


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