Fastenal Company ($FAST) Stock Forecast: Up 8.6% Today

What is Fastenal Company?

Fastenal (NASDAQ: FAST) is a company specializing in industrial and construction supplies. The overall market experienced a bullish movement today, with the Dow Jones index increasing by approximately 250 points.

Why is Fastenal Company going up?

FAST stock is up 8.6% on Oct 11, 2024 17:22

• The bullish movement in Fastenal's stock today is due to the following reasons:
• Better-than-expected third-quarter financial results released by Fastenal resulted in a surge in its stock price.
• Positive forecast changes for Fastenal's earnings by analysts likely contributed to investor optimism.
• BofA Securities analyst Sabrina Abrams provided a Buy rating and a price target of $85, boosting investor confidence in Fastenal's stock.
• The positive market sentiment towards Fastenal stood out amidst slightly lower U.S. stock futures, highlighting the company's strong performance compared to other market movements.

FAST Price Chart

FAST Technical Analysis

FAST News

Fastenal Posts Upbeat Earnings, Joins Wells Fargo, JPMorgan And Other Big Stocks Moving Higher On Friday - Fastenal ( NASDAQ:FAST )

U.S. stocks were higher, with the Dow Jones index gaining around 250 points on Friday. Shares of Fastenal Company FAST rose sharply during Friday's session after the company reported better-than-expected third-quarter financial results.

https://www.benzinga.com/news/24/10/41292429/fastenal-posts-upbeat-earnings-joins-wells-fargo-jpmorgan-and-other-big-stocks-moving-higher-on-frid

JPMorgan, Wells Fargo And 3 Stocks To Watch Heading Into Friday - JPMorgan Chase ( NYSE:JPM )

With U.S. stock futures trading slightly lower this morning on Friday, some of the stocks that may grab investor focus today are as follows: Wall Street expects JPMorgan Chase & Co. JPM to report quarterly earnings at $4.01 per share on revenue of $41.65 billion before the opening bell, according ...

https://www.benzinga.com/news/earnings/24/10/41286136/jpmorgan-wells-fargo-and-3-stocks-to-watch-heading-into-friday

Fastenal Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts - Fastenal ( NASDAQ:FAST )

Fastenal Company FAST will release earnings results for its third quarter, before the opening bell on Friday, Oct. 11. Analysts expect the Winona, Minnesota-based company to report quarterly earnings at 52 cents per share, compared to 52 cents per share in the year-ago period.

https://www.benzinga.com/news/earnings/24/10/41274116/fastenal-gears-up-for-q3-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate

5 Stocks to Kick-Off Q3 Earnings Season

The big banks will report this week but there are other companies that you should watch as well.

https://www.zacks.com/stock/news/2348412/5-stocks-to-kick-off-q3-earnings-season

What's Going On With Fastenal Stock? - Fastenal ( NASDAQ:FAST )

Fastenal Company FAST shares are trading slightly higher Monday. BofA Securities analyst Sabrina Abrams initiated coverage on Fastenal with a Buy rating and announced a price target of $85.

https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41211720/whats-going-on-with-fastenal-stock

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Fastenal Company Price History

11.09.2024 - FAST Stock was up 5.2%

• Fastenal's stock experienced a robust surge following the initiation of coverage by an analyst with a Buy rating and a price target of $85.
• Analysts anticipate the company to announce quarterly earnings of 52 cents per share, likely contributing to the optimistic market sentiment and upward trend in the stock price.
• The upcoming third-quarter earnings release before the opening bell today sparked investor interest and propelled the bullish momentum in Fastenal's stock.
• In summary, favorable analyst coverage and market expectations surrounding the earnings report appear to have bolstered the positive movement in Fastenal's stock today.

11.09.2024 - FAST Stock was up 8.6%

• The bullish movement in Fastenal's stock today is due to the following reasons:
• Better-than-expected third-quarter financial results released by Fastenal resulted in a surge in its stock price.
• Positive forecast changes for Fastenal's earnings by analysts likely contributed to investor optimism.
• BofA Securities analyst Sabrina Abrams provided a Buy rating and a price target of $85, boosting investor confidence in Fastenal's stock.
• The positive market sentiment towards Fastenal stood out amidst slightly lower U.S. stock futures, highlighting the company's strong performance compared to other market movements.

19.00.2024 - FAST Stock was up 7.1%

• Fastenal stock hit a new 52-week high after reporting stronger than expected earnings, leading to a surge in its stock price.
• The positive earnings report and upbeat Q4 results contributed to the bullish movement of Fastenal stock.
• The market's positive reaction to Fastenal's earnings suggests investor confidence in the company's performance and outlook.
• The overall bullish market movement could also be influenced by the positive economic outlook and Wall Street rally mentioned in the articles.

12.09.2023 - FAST Stock was up 7.0%

• Fastenal beat earnings estimates by 2 cents a share, with third-quarter sales rising and matching analyst estimates.
• The impact of product pricing on sales was "modestly positive" in the quarter, indicating stability in pricing.
• The increase in profit and beating of estimates can be attributed to higher demand for heavy manufacturing equipment.
• Overall, Fastenal's strong performance in the market can be attributed to their ability to exceed earnings expectations and capitalize on steady demand for their products, particularly in the heavy manufacturing equipment sector.

11.03.2024 - FAST Stock was down 5.1%

• Modest growth in Q1 revenue and profit was reported by Fastenal, but the earnings missed estimates, leading to a slide in the stock price.
• Despite an improving manufacturing outlook, subdued demand impacted Fastenal's Q1 performance.
• The company's first-quarter sales growth of 1.9% year-over-year fell short of expectations, contributing to the bearish movement in the stock.
• The earnings and revenue figures for Fastenal in Q1 did not meet estimates, causing investors to react negatively to the results.

11.03.2024 - FAST Stock was down 5.8%

• Reported Q1 earnings of $0.52 per share, falling short of the Zacks Consensus Estimate of $0.53 per share, resulting in a negative earnings surprise.
• Revenues of $1.9 billion for the quarter also missed the Zacks Consensus Estimate by 0.98%, indicating a revenue shortfall.
• The disappointing financial results likely influenced the bearish market movement, with investors reacting to the earnings and revenue miss.
• The stock's immediate price action may be impacted by management's discussions on the earnings call, as market participants evaluate the company's future prospects and growth potential.

11.03.2024 - FAST Stock was down 6.8%

• Fastenal's stock experienced a bearish movement today due to:
• Missing consensus sales figures for the first quarter of FY24, indicating potential challenges in revenue generation.
• Earnings and revenues falling below estimates, leading to investor disappointment.
• Profit for the quarter failing to meet Street estimates, signaling potential concerns about the company's financial performance.
• Options volatility and implied earnings moves suggesting uncertainty surrounding the stock's future performance.

11.03.2024 - FAST Stock was down 5.8%

• Disappointing first-quarter financial results were reported by Fastenal, with earnings per share missing estimates.
• The stock's price decline can be attributed to the earnings miss, indicating investor concerns about the company's performance.
• Despite revenue growth, the failure to meet EPS expectations likely led to a negative sentiment among investors, resulting in the bearish movement.
• The market reaction reflects the importance of meeting both revenue and earnings expectations to maintain investor confidence and drive stock performance.

11.03.2024 - FAST Stock was down 6.2%

• Q1 2024 earnings for Fastenal fell short of both EPS and revenue expectations, indicating a financial performance below projections.
• The company cited weakened demand, particularly from the sluggish manufacturing sector, reflecting challenges in their primary market.
• While revenue and profit experienced slight growth, concerns regarding demand and missed estimates dampened investor confidence, leading to a decrease in the stock price.
• The stock's downward movement can be partly attributed to mixed U.S. equities performance and apprehensions about inflation, contributing to the overall negative sentiment surrounding Fastenal.

13.06.2023 - FAST Stock was down 1.4%

• Fastenal's Q2 sales growth of 5.9% Y/Y was slightly below the consensus estimate, which may have disappointed investors and led to the bearish market movement.
• The stock decline could also be attributed to the fact that the company's revenue missed Wall Street's average estimate, indicating potential concerns about its future performance.
• While Fastenal's net earnings increased from the same period last year, the fact that it missed Street estimates could have contributed to the negative market sentiment.
• It's worth noting that the overall market conditions and investor sentiment may have also played a role in the bearish movement of Fastenal's stock.

12.06.2024 - FAST Stock was up 2.0%

• Sales for the second quarter of 2024 rose despite a decline in profit.
• The appointment of Jeff Watts as the new President and Chief Sales Officer has boosted investor confidence.
• The company's revenue growth remained strong despite market challenges highlighted by the CEO.
• The ongoing leadership of CEO Dan Florness has fostered stability and trust in the company, driving the stock's upward momentum.

12.06.2024 - FAST Stock was up 1.9%

• FAST stock saw a bullish movement amid the earnings season.
• Implied earnings moves and options volatility for FAST were likely positive.
• The start of the Q2 earnings season could have positively affected investor sentiment towards FAST.
• Consumer-focused companies, like Fastenal, are under close observation during this earnings period.