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Does Fastenal Company (FAST)’s Current Price Volatility Hinder Its Future Potential?

Fastenal Company (NASDAQ:FAST) has a beta value of 1.17 and has seen 4.44 million shares traded in the last trading session. The company, currently valued at $27.12B, closed the last trade at $49.58 per share which meant it gained $0.59 on the day or 1.20% during that session. The FAST stock price is -22.51% off its 52-week high price of $60.74 and 11.8% above the 52-week low of $43.73. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.26 million shares traded. The 3-month trading volume is 3.45 million shares.

The consensus among analysts is that Fastenal Company (FAST) is a Hold stock at the moment, with a recommendation rating of 3.10. 3 analysts rate the stock as a Sell, while 0 rate it as Overweight. 10 out of 16 have rated it as a Hold, with 2 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.41.

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Fastenal Company (NASDAQ:FAST) trade information

Sporting 1.20% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the FAST stock price touched $49.58 or saw a rise of 0.14%. Year-to-date, Fastenal Company shares have moved 4.78%, while the 5-day performance has seen it change 2.82%. Over the past 30 days, the shares of Fastenal Company (NASDAQ:FAST) have changed 3.42%. Short interest in the company has seen 12.06 million shares shorted with days to cover at 2.92.

Wall Street analysts have a consensus price target for the stock at $50.53, which means that the shares’ value could jump 1.88% from current levels. The projected low price target is $42.00 while the price target rests at a high of $56.00. In that case, then, we find that the current price level is -12.95% off the targeted high while a plunge would see the stock lose 15.29% from current levels.

Fastenal Company (FAST) estimates and forecasts

Figures show that Fastenal Company shares have underperformed across the wider relevant industry. The company’s shares have gained 2.65% over the past 6 months, with this year growth rate of 1.59%, compared to 17.30% for the industry. Revenue growth from the last financial year stood is estimated to be 15.40%.

10 analysts offering their estimates for the company have set an average revenue estimate of $1.66 billion for the current quarter. 7 have an estimated revenue figure of $1.76 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $1.53 billion and $1.7 billion respectively for this quarter and the next, and analysts expect sales will grow by 8.40% for the current quarter and 3.30% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 13.20% over the past 5 years. Earnings growth for 2023 is a modest 7.40% while over the next 5 years, the company’s earnings are expected to increase by 6.33%.

FAST Dividends

Fastenal Company is expected to release its next earnings report on April 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.40 at a share yield of 2.82%. The company’s dividend yield has gone up over the past 12 months.

Fastenal Company (NASDAQ:FAST)’s Major holders

Insiders own 0.18% of the company shares, while shares held by institutions stand at 79.33% with a share float percentage of 79.47%. Investors are also buoyed by the number of investors in a company, with Fastenal Company having a total of 1,346 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 68.95 million shares worth more than $3.44 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 12.04% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 45.83 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $2.29 billion and represent 8.00% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. As of Jun 29, 2022, the former fund manager holds about 2.96% shares in the company for having 16.95 million shares of worth $845.95 million while later fund manager owns 13.25 million shares of worth $661.45 million as of Jun 29, 2022, which makes it owner of about 2.31% of company’s outstanding stock.

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