why Fastenal Co. [FAST] is a Good Choice for Investors After New Price Target of $58.90

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Fastenal Co. [NASDAQ: FAST] jumped around 0.55 points on Thursday, while shares priced at $60.66 at the close of the session, up 0.91%. The company report on October 19, 2023 at 8:30 AM that Fastenal and the National Hockey League Announce Multiyear Global Partnership Extension.

Fastenal Becomes Presenting Sponsor of All NHL Global Series European Games, Including 2023 NHL Global Series Sweden and NHL Saturday and NHL Sunday Broadcasts.

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Fastenal Company (Nasdaq: FAST), a global leader in supply chain solutions and industrial distribution, and the National Hockey League (NHL®) today announced a multiyear global partnership extension. The renewed partnership expands Fastenal’s international NHL presence to include presenting sponsorship of all NHL Global Series European games, as well as the NHL’s primetime international broadcast series NHL Saturday and NHL Sunday.

Fastenal Co. stock is now 28.19% up from its year-to-date (YTD) trading value. FAST Stock saw the intraday high of $60.855 and lowest of $60.22 per share. The company’s 52-week high price is 61.25, which means current price is +32.74% above from all time high which was touched on 11/15/23.

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Compared to the average trading volume of 3.26M shares, FAST reached a trading volume of 3158898 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 Co. [FAST]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FAST shares is $58.90 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 3.07. 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.

HSBC Securities have made an estimate for Fastenal Co. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 15, 2023.

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The Average True Range (ATR) for Fastenal Co. is set at 1.04, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 4.76. The Price to Book ratio for the last quarter was 10.00, with the Price to Cash per share for the same quarter was set at 0.52. Price to Free Cash Flow for FAST in the course of the last twelve months was 28.85 with Quick ratio for the last quarter at 2.45.

How has FAST stock performed recently?

Fastenal Co. [FAST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.59. With this latest performance, FAST shares gained by 3.18% in over the last four-week period, additionally plugging by 9.81% over the last 6 months – not to mention a rise of 17.49% 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 62.41, with the RSI for the last a single of trading hit 63.65, and the three-weeks RSI is set at 60.94 for Fastenal Co. [FAST]. The present Moving Average for the last 50 days of trading for this stock 57.07, while it was recorded at 60.28 for the last single week of trading, and 55.51 for the last 200 days.

Fastenal Co. [FAST]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fastenal Co. [FAST] shares currently have an operating margin of +20.82 and a Gross Margin at +43.69. Fastenal Co.’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 Co. [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 Co. [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 Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.45 and a Current Ratio set at 4.71.

Earnings analysis for Fastenal Co. [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 Co. go to 6.33%.

Insider trade positions for Fastenal Co. [FAST]

The top three institutional holders of FAST stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in FAST stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in FAST stock with ownership which is approximately 5.7994%.

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