The stock of Fastenal Company (NASDAQ:FAST) increased by $0.21 on Tuesday to finish at $57.54, up 0.37 percent. The last five days have seen an average of 1,939,160 shares of common stock traded. 24 times new highs were reached in the current year, with a gain of $10.22. The average number of shares traded over the last 20 days was 2,273,305, while the average volume over the last 50 days totaled 3,042,994.
FAST stock dropped -1.83% since last month. On 08/04/23, the company’s shares reached a one-month low of $55.96. The stock touched a high of $59.43 on 07/12/23, after rallying from a low of $43.73 in 52 weeks. The price of FAST stock has risen by 21.60% or $10.22 this year, reaching a new high 24 times. Still, the stock price is down -3.18% from the 52-week high.
Insider Transactions
FAST stock investors should be aware that Fastenal Company (FAST) stock had its last reported insider trading activity 9 days ago on Aug 21. On Aug 21, Director WISECUP REYNE K sold 19,564 shares at $56.78 each. This transaction resulted in the insider making $1,110,912. On Jul 17, Ancius Michael J added 500 shares at a price of US$57.53. After the transaction, the insider now owns 28,765 shares. CHIEF OPERATING OFFICER Owen Terry Modock had earlier sold 20,000 shares on Jun 13 for $56.15 a share. The transaction was completed for $1,123,070.
Valuation Metrics
Fastenal Company (FAST) has a trailing price-to-earnings (P/E) ratio of 29.36. Beta for the stock is 1.15. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 4.48, the price-to-book (PB) ratio of 9.72, and the price-to-cash flow ratio of 30.34.
Company paid $0.35 per share in dividends, remained unchanged from $0.35 last year. A $0.04 dividend increase was reported on Wednesday January 18 2023.
Financial Health
For the three months ended June 29, Fastenal Company’s quick ratio was 2.10, while its current ratio was 4.30, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.06, and the total debt to equity ratio is 0.10. As far as profitability goes, gross margin for the trailing twelve months is 45.60% percent. Fastenal Company’s EBITDA margin for the year ended June 29 was 23.35%, whereas its operating margin stood at 20.70% for the same period. Based on annual data, it had gross profit of $3.22 billion and revenue of $6.98 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FAST’s return on assets (ROA) during the last 12 months has been 24.50%. There was a 29.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 34.60%.
Earnings Surprise
According to Fastenal Company’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.88 billion, while revenues rose by 5.55% to $1.86 billion. It was predicted that Fastenal Company’s quarterly earnings would be $0.52, but it ended up being $0.53, beating the consensus by -1.90%. EBITDA was $439.8 million for the quarter. At the end of Fastenal Company’s most recent quarter ended June 29, its liabilities totaled 1.2 billion, while its total debt was $618.4 million. Equity owned by shareholders amounts to $571.33 million.
Technical Picture
Here’s a quick look at Fastenal Company’s (FAST) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 54.01%, suggesting the stock is Neutral, with a 12.38% historical volatility rate.
The stochastic %K and %D were 58.28% and 49.39% respectively, while the average true range (ATR) was 0.88. Based on the 14-day stochastic reading of 66.07%, the RSI (14) reading is 52.07%. On the 9-day MACD Oscillator, the stock is at 0.17, and the 14-day reading is at 0.12.
Analyst Ratings
Fastenal Company (NASDAQ: FAST) was downgraded by Stephens to a an Equal-weight rating in its latest research report. The stock was previously rated as a an Overweight. Analysts have assigned Fastenal Company (FAST) an Hold rating. FAST is a stock that is recommended for selling by 3 brokerage firms, while 10 companies recommend holding. The stock is underweighted by 2 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is FAST’s price target for the next 12 months?
The current consensus forecast for the stock is between $50.00 and $61.30, with a median target price of $56.00. In analyzing these forecasts, the average price target given by analysts for Fastenal Company (FAST) is $56.75.
