Fastenal Co. (NASDAQ: FAST) – Not A Clear Buying Opportunity?

Fastenal Co. (FAST) concluded trading on Wednesday at a closing price of $76.35, with 3.21 million shares of worth about $245.02 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 40.05% during that period and on April 3, 2024 the price saw a gain of about 0.07%. Currently the company’s common shares owned by public are about 571.98M shares, out of which, 571.27M shares are available for trading.

However, the stock later moved at a day high price of 75.44, or with a gain of 0.07%. Stock saw a price change of -0.56% in past 5 days and over the past one month there was a price change of 2.09%. Year-to-date (YTD), FAST shares are showing a performance of 17.88% which increased to 42.43% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $49.99 but also hit the highest price of $79.04 during that period. The average intraday trading volume for Fastenal Co. shares is 3.93 million. The stock is currently trading 0.31% above its 20-day simple moving average (SMA20), while that difference is up 4.97% for SMA50 and it goes to 22.85% higher than SMA200.

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Fastenal Co. (NASDAQ: FAST) currently have 571.98M outstanding shares and institutions hold larger chunk of about 84.42% of that.

The stock has a current market capitalization of $43.71B and its 3Y-monthly beta is at 1.04. PE ratio of stock for trailing 12 months is 37.88, while it has posted earnings per share of $2.02 in the same period. Its PEG reads 5.98 and has Quick Ratio of 2.27 while making debt-to-equity ratio of 0.16. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FAST, volatility over the week remained 1.20% while standing at 1.48% over the month.

Stock’s fiscal year EPS is expected to rise by 7.09% while it is estimated to increase by 8.68% in next year. EPS is likely to shrink at an annualized rate of 6.33% for next 5-years, compared to annual growth of 9.01% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by HSBC Securities on September 15, 2023 offering a Hold rating for the stock and assigned a target price of $59 to it. Coverage by Stephens stated Fastenal Co. (FAST) stock as an Equal-weight in their note to investors on July 13, 2023, suggesting a price target of $60 for the stock. On April 04, 2023, Stifel Initiated their recommendations, while on October 17, 2022, Jefferies Resumed their ratings for the stock with a price target of $50. Stock get a Neutral rating from Robert W. Baird on July 14, 2022.

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