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Fastenal (FAST) Stock Moves -0.47%: What You Should Know

Fastenal (FAST) closed the most recent trading day at $54.90, moving -0.47% from the previous trading session. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 2.33%.

Prior to today's trading, shares of the maker of industrial and construction fasteners had gained 1.06% over the past month. This has outpaced the Retail-Wholesale sector's gain of 0.98% and the S&P 500's gain of 1.03% in that time.

Investors will be hoping for strength from Fastenal as it approaches its next earnings release. On that day, Fastenal is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 6%. Meanwhile, our latest consensus estimate is calling for revenue of $1.89 billion, up 6.28% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.98 per share and revenue of $7.35 billion. These totals would mark changes of +4.76% and +5.36%, respectively, from last year.

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It is also important to note the recent changes to analyst estimates for Fastenal. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.71% higher within the past month. Fastenal is currently a Zacks Rank #2 (Buy).

Investors should also note Fastenal's current valuation metrics, including its Forward P/E ratio of 27.82. This represents a premium compared to its industry's average Forward P/E of 12.02.

Investors should also note that FAST has a PEG ratio of 3.09 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Retail industry currently had an average PEG ratio of 1.86 as of yesterday's close.

The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Fastenal Company (FAST) : Free Stock Analysis Report

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Zacks Investment Research