Investors are poised to add Fastenal Company (FAST) Stock to their long term portfolios

Currently, Fastenal Company [FAST] is trading at $52.39, up 0.65%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The FAST shares have gain 1.47% over the last week, with a monthly amount glided 11.97%, and seem to be holding up well over a long-time horizon.

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On 7, November 2022, Fastenal Hits $1 Billion in Year-to-Date eCommerce Revenue. In a post published today on Yahoo Finance, In recent years, Fastenal celebrated two major milestones related to its FAST Solutions program, surpassing 100,000 active FMI Technology devices within customer sites and, later, 1,000 Onsite partnership programs. In October, the company added a third significant milestone to the list, for the first time reaching $1 billion in eCommerce revenue within a calendar year.

From an analyst’s perspective:

Previously, Robert W. Baird downgraded its rating to Neutral on July 14, 2022, and kept the price target unchanged to $48. On March 08, 2022, upgrade upgraded it’s rating to Equal Weight and revised its price target to $58 on the stock. Wells Fargo downgraded its rating to a Underweight and decreased its price target to $45 on October 08, 2021. Loop Capital initiated its recommendation with a Hold and recommended $52 as its price target on August 03, 2021. Morgan Stanley downgraded its rating to Underweight for this stock on June 15, 2021, and downed its price target to $48. In a note dated December 16, 2020, Deutsche Bank downgraded an Hold rating on this stock but restated the target price of $51.

This stock has fluctuated between a low of $43.73 and a high of $64.75 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $48.44 within the next 12 months. Fastenal Company [NASDAQ: FAST] shares were valued at $52.39 at the most recent close of the market. An investor can expect a potential drop of -7.54% based on the average FAST price forecast.

Analyzing the FAST fundamentals

Recent quarter sales for Fastenal Company [NASDAQ:FAST] were 1.8 billion which represents 16.00% growth. Gross Margin for this corporation currently stands at +43.54% with Operating Margin at +20.25%, Pretax Margin comes in at +20.09%, and Net Margin reading is +15.39%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 51.87 points at the first support level, and at 51.35 for the second support level. However, for the 1st resistance point, the stock is sitting at 52.92, and for the 2nd resistance point, it is at 53.45.

Fastenal Company [FAST] reported earnings per share of $0.5 for its fiscal quarter that ended on 9/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.48/share, meaning a difference of $0.02 and a surprise factor of 4.20%. By comparison, the stated earnings for the previous quarter ended on 6/29/2022 were $0.5 per share as compared to estimates of $0.5 per share, a difference of $0 representing a surprise of 0.00%.

Ratios To Look Out For

To put it in perspective, the Current Ratio for Fastenal Company [NASDAQ:FAST] is 4.00. As well, the Quick Ratio is 1.95, while the Cash Ratio is 0.35. Considering the valuation of this stock, the price to sales ratio is 6.15, the price to book ratio is 12.12 and the P/E (TTM) ratio is 28.18.

Transactions by insiders

Insider trading has also been a hot topic recently, with 6 insiders purchasing 7,500 shares and 0 selling 0 shares in the past 3 months. Recent insider trading involved Nielsen Sarah N, Director, that happened on Oct 17 when 500.0 shares were purchased. Director, Eastman Stephen L. completed a deal on Oct 14 to buy 1000.0 shares. Meanwhile, Director Nielsen Sarah N bought 500.0 shares on Sep 15.