Fastenal Co. [NASDAQ: FAST] closed the trading session at $73.01. 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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The stocks have a year to date performance of 12.72 percent and weekly performance of 1.32 percent. The stock has been moved at 27.68 percent over the last six months. The stock has performed 5.64 percent around the most recent 30 days and changed 22.65 percent over the most recent 3-months.
If compared to the average trading volume of 3.86M shares, FAST reached to a volume of 4778341 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 new note on the price target was released on July 13, 2023, representing the official price target for Fastenal Co. stock. Previously, the target price had yet another raise to $61, while Stifel analysts kept a Buy rating on FAST stock.
The Average True Range (ATR) for Fastenal Co. is set at 1.06, with the Price to Sales ratio for FAST stock in the period of the last 12 months amounting to 5.69. The Price to Book ratio for the last quarter was 12.47, 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 33.17 with Quick ratio for the last quarter at 2.27.
FAST stock trade performance evaluation
Fastenal Co. [FAST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.32. With this latest performance, FAST shares gained by 5.64% in over the last four-week period, additionally plugging by 27.68% over the last 6 months – not to mention a rise of 42.49% 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 70.11, with the RSI for the last a single of trading hit 71.53, and the three-weeks RSI is set at 68.90 for Fastenal Co. [FAST]. The present Moving Average for the last 50 days of trading for this stock 67.62, while it was recorded at 72.98 for the last single week of trading, and 60.03 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%.
