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Fastenal (FAST) Stock Moves -0.15%: What You Should Know

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Fastenal (FAST - Free Report) closed the most recent trading day at $54.52, moving -0.15% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.57%. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq lost 1.04%.

Coming into today, shares of the maker of industrial and construction fasteners had lost 5.45% in the past month. In that same time, the Retail-Wholesale sector lost 0.27%, while the S&P 500 gained 0.64%.

Investors will be hoping for strength from Fastenal as it approaches its next earnings release, which is expected to be October 12, 2023. In that report, analysts expect Fastenal to post earnings of $0.51 per share. This would mark year-over-year growth of 2%. Our most recent consensus estimate is calling for quarterly revenue of $1.85 billion, up 2.7% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.98 per share and revenue of $7.34 billion, which would represent changes of +4.76% and +5.1%, respectively, from the prior year.

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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Fastenal is currently a Zacks Rank #3 (Hold).

Looking at its valuation, Fastenal is holding a Forward P/E ratio of 27.53. This represents a premium compared to its industry's average Forward P/E of 11.29.

Also, we should mention that FAST has a PEG ratio of 3.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Building Products - Retail stocks are, on average, holding a PEG ratio of 2 based on yesterday's closing prices.

The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.

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