Fastenal Company [NASDAQ: FAST] stock went on a downward path that fall over -0.35% on Thursday, amounting to a one-week price increase of more than 2.00%. The company report on August 8, 2023 at 4:15 PM that Fastenal Teams with Trex to Turn Used Plastic into Outdoor Building Products.
One of the environmental, social, and governance (ESG) objectives of Fastenal Company (Nasdaq: FAST) is to reduce consumption and environmental impacts throughout its operations and provide solutions for its customers to do the same. To support this objective, Fastenal has entered into a scrap supply agreement with Trex Company, Inc., the world’s leading manufacturer of wood-alternative composite decking, railing, and other outdoor building products made from recycled materials. The entire portfolio of Trex composite decking is made from 95% recycled and reclaimed materials, including a mix of polyethylene (PE) film and industrial wood scrap.
Through the partnership, Fastenal is collecting used PE film in its distribution centers, branches, and customer-specific Onsite locations and shipping it to Trex to use the material in the manufacture of its composite decking products. PE film (familiarly known as “pallet wrap” in the distribution industry) is used by Fastenal and its suppliers to secure boxes and other packaging to pallets for shipment.
Over the last 12 months, FAST stock rose by 13.97%. The one-year Fastenal Company stock forecast points to a potential upside of 0.21. The average equity rating for FAST stock is currently 3.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $32.49 billion, with 571.10 million shares outstanding and 570.36 million shares in the current float. Compared to the average trading volume of 3.22M shares, FAST stock reached a trading volume of 3092773 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $57.70 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.
Stephens have made an estimate for Fastenal Company shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on July 13, 2023.
The Average True Range (ATR) for Fastenal Company is set at 0.84, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 4.49. The Price to Book ratio for the last quarter was 9.73, with the Price to Cash per share for the same quarter was set at 0.43. Price to Free Cash Flow for FAST in the course of the last twelve months was 30.36 with Quick ratio for the last quarter at 2.10.
FAST Stock Performance Analysis:
Fastenal Company [FAST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.00. With this latest performance, FAST shares dropped by -0.50% in over the last four-week period, additionally plugging by 8.85% over the last 6 months – not to mention a rise of 13.97% 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 52.11, with the RSI for the last a single of trading hit 53.72, and the three-weeks RSI is set at 51.91 for Fastenal Company [FAST]. The present Moving Average for the last 50 days of trading for this stock 57.66, while it was recorded at 57.48 for the last single week of trading, and 53.50 for the last 200 days.
Insight into Fastenal Company 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 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 2.10 and a Current Ratio set at 4.30.
FAST Stock EPS
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%.
Fastenal Company [FAST] Institutonal Ownership Details
The top three institutional holders of FAST stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in FAST stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in FAST stock with ownership which is approximately 5.7381%.