Fastenal Company (FAST) Monthly Report
Publication Date: September 22, 2024
Company Overview
Fastenal Company (NASDAQ: FAST), headquartered in Winona, Minnesota, is a leading player in the industrial distribution sector. Established in 1967, Fastenal specializes in the wholesale distribution of construction and industrial supplies, servicing clients in the United States, Canada, and Mexico, among other regions. The company offers a comprehensive assortment of fasteners such as bolts, nuts, screws, and washers, making it crucial for manufacturing and construction projects. Fastenal’s diverse client base includes original equipment manufacturers, maintenance and repair operations, and various governmental entities, solidifying its position within the trading companies and distributors sub-industry. With total revenue reaching approximately $7.42 billion, Fastenal stands as a compelling investment opportunity for those interested in long-term growth within the industrials sector.
Stock Performance and Analysis
As of September 22, 2024, Fastenal’s stock is priced at $70.75, positioning it above the 50-day moving average of $67.99, suggesting bullish momentum. The stock has experienced considerable volatility within the past year, with a 52-week high of $79.04 and a low of $53.94, indicating a strong level of investor confidence and potential for growth. Analysts have set a target high price of $80.00, suggesting optimistic upside potential, while the mean target price stands at $63.74 and the median at $64.70, reflecting a cautious consensus among analysts. The recommendation key indicates a ‘hold’ stance, signaling that investors should maintain their positions and continue to monitor market developments.
Trading Dynamics and Market Sentiment
Fastenal has 572,646,016 shares outstanding, with approximately 14,133,395 shares currently shorted, resulting in a short interest of about 2.82% of the float. This relatively low percentage indicates a general sense of optimism among investors regarding the stock’s performance. With a robust income stream reported at $7.42 billion in total revenue, further clarity on the company’s cost structures would enhance the assessment of its profitability. The stock’s price targets demonstrate potential volatility, with a high of $80.00 and a low of $37.00. Overall, the market sentiment remains cautious but optimistic, underscoring the importance of monitoring Fastenal’s performance in relation to broader economic factors before making investment decisions.
| Metric | Value |
|---|---|
| Market Cap | $40.5b |
| Total Debt | $516.2m |
| Total Cash | $255.5m |
| Shares Outstanding | 572.6m |
| Float Shares | 571.0m |
Disclaimer:
The information provided in this monthly report is for informational purposes only and should not be construed as financial, investment, or trading advice. AltStation.io does not guarantee the accuracy, completeness, or timeliness of the data and analyses presented. The content is based on publicly available information, and while we strive to ensure its accuracy, errors and omissions may occur.
Investing in stocks, cryptocurrencies, and other financial instruments involves significant risk, including the potential loss of principal. Past performance is not indicative of future results. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions. AltStation.io and its affiliates are not responsible for any losses incurred as a result of using this report.
By using this report, you acknowledge that you understand and accept these terms.