This is What Makes Fastenal Company Stocks A Gamechanger?

A share price of Fastenal Company [FAST] is currently trading at $49.58, up 1.20%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The FAST shares have gain 2.82% over the last week, with a monthly amount glided 3.42%, and seem to be holding up well over a long-time horizon.

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On 19, January 2023, Fastenal Company Reports 2022 Annual and Fourth Quarter Earnings. In a post published today on Yahoo Finance, 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, 2022. 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.

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.

Fastenal Company experienced fluctuations in its stock price throughout the past year between $43.73 and $60.74. Currently, Wall Street analysts expect the stock to reach $50.53 within the next 12 months. Fastenal Company [NASDAQ: FAST] shares were valued at $49.58 at the most recent close of the market. An investor can expect a potential return of 1.92% based on the average FAST price forecast.

Analyzing the FAST fundamentals

During the last quarter, Fastenal Company [NASDAQ:FAST] saw sales of 1.7 billion, an improvement of 16.00%. Gross Margin for this corporation currently stands at +46.07% with Operating Margin at +20.82%, Pretax Margin comes in at +20.63%, and Net Margin reading is +15.57%.

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 48.75 points at the first support level, and at 47.92 for the second support level. However, for the 1st resistance point, the stock is sitting at 50.03, and for the 2nd resistance point, it is at 50.49.

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

A current ratio of 4.00 is a noteworthy aspect of Fastenal Company [NASDAQ:FAST]. Also, the Quick Ratio is 1.79, while the Cash Ratio stands at 0.29. Considering the valuation of this stock, the price to sales ratio is 3.90, the price to book ratio is 8.54 and the P/E (TTM) ratio is 26.26.

Transactions by insiders

We now turn our attention to insider trading, which in the past 3 months has resulted in 1 insider buyings of 5,940 shares and 0 insider sellings of 0 shares. Recent insider trading involved Watts Jeffery Michael, EXECUTIVE VICE-PRESIDENT, that happened on Nov 29 when 5940.0 shares were purchased. Director, Nielsen Sarah N completed a deal on Oct 17 to buy 500.0 shares. Meanwhile, Director Eastman Stephen L. bought 1000.0 shares on Oct 14.