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Fastenal (FAST) Exceeds Market Returns: Some Facts to Consider

In the latest market close, Fastenal (FAST) reached $72.18, with a +0.17% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.04%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.28%.

Shares of the maker of industrial and construction fasteners have appreciated by 4.12% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 7.4% and the S&P 500's gain of 5.01%.

The investment community will be closely monitoring the performance of Fastenal in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.53, marking a 1.92% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.92 billion, up 3.06% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.15 per share and a revenue of $7.79 billion, representing changes of +6.44% and +6.02%, respectively, from the prior year.

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Investors might also notice recent changes to analyst estimates for Fastenal. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.47% higher. Fastenal is currently a Zacks Rank #2 (Buy).

Digging into valuation, Fastenal currently has a Forward P/E ratio of 33.58. Its industry sports an average Forward P/E of 14.55, so one might conclude that Fastenal is trading at a premium comparatively.

It is also worth noting that FAST currently has a PEG ratio of 3.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Building Products - Retail industry had an average PEG ratio of 2.05 as trading concluded yesterday.

The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 55, finds itself in the top 22% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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Fastenal Company (FAST) : Free Stock Analysis Report

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Zacks Investment Research