For Fastenal Co. [FAST], Analyst sees a rise to $59. What next?

Fastenal Co. [NASDAQ: FAST] plunged by -$0.2 during the normal trading session on while it closed the day at $69.26. The company report on January 18, 2024 at 6:50 AM that Fastenal Company Reports 2023 Annual and Fourth 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 and year ended December 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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Fastenal Co. stock has also loss -0.83% of its value over the past 7 days. However, FAST stock has inclined by 18.09% in the 3 months of the year. Over the past six months meanwhile, it has gained 22.10% and gained 6.93% year-on date.

The market cap for FAST stock reached $39.58 billion, with 571.98 million shares outstanding and 570.26 million shares in the current float. Compared to the average trading volume of 3.75M shares, FAST reached a trading volume of 2655088 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $64.79 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 3.18. 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.

The Average True Range (ATR) for Fastenal Co. is set at 1.12, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 5.39. The Price to Book ratio for the last quarter was 11.83, with the Price to Cash per share for the same quarter was set at 0.39. Price to Free Cash Flow for FAST in the course of the last twelve months was 31.41 with Quick ratio for the last quarter at 2.27.

FAST stock trade performance evaluation

Fastenal Co. [FAST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.83. With this latest performance, FAST shares gained by 10.76% in over the last four-week period, additionally plugging by 22.10% over the last 6 months – not to mention a rise of 30.32% 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 61.63, with the RSI for the last a single of trading hit 58.67, and the three-weeks RSI is set at 62.70 for Fastenal Co. [FAST]. The present Moving Average for the last 50 days of trading for this stock 65.05, while it was recorded at 69.66 for the last single week of trading, and 58.83 for the last 200 days.

Fastenal Co. [FAST]: An insightful look at the core fundamentals

Fastenal Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.27 and a Current Ratio set at 4.57.

Earnings per share (EPS) analysis for Fastenal Co. [FAST] stock

With the latest financial reports released by the company, Fastenal Co. posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.5/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.00%. 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%.

Fastenal Co. [FAST]: Institutional Ownership

The top three institutional holders of FAST stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FAST stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FAST stock with ownership which is approximately 5.8325%.