Fastenal Company ($FAST) Stock Forecast: Up 2.0% Today

What is Fastenal Company?

Fastenal Company (NASDAQ: FAST) is a distributor of fasteners and other commercial products. The stock witnessed a notable bullish movement today.

Why is Fastenal Company going up?

FAST stock is up 2.0% on Jul 12, 2024 16:01

• 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.

FAST Price Chart

FAST News

FAST Earnings: Fastenal Q2 profit drops despite increase in sales

Fastenal Company (NASDAQ: FAST) on Friday announced second-quarter 2024 financial results, reporting lower net income despite an increase in revenues. Net income was $292.7 million or $0.51 per share in the […] The post FAST Earnings: Fastenal Q2 profit drops despite increase in sales first appeared on AlphaStreet .

https://news.alphastreet.com/fast-earnings-fastenal-q2-profit-drops-despite-increase-in-sales/

Fastenal Stock Climbs as Sales Rise

Fastenal''s revenue got a lift even as the distributor of fasteners and other commercial products'' CEO said market activity was "challenging.

https://www.investopedia.com/fastenal-sales-rise-amid-challenging-market-activity-8677089

Fastenal Promotes Jeff Watts To Succeed Dan Florness As President; Florness To Continue As CEO

WINONA (dpa-AFX) - Fastenal Co. (FAST) announced Friday it has appointed Jeff Watts to the position of President, effective August 1, 2024. In addition to serving as President, Watts will continue…

https://www.finanznachrichten.de/nachrichten-2024-07/62719796-fastenal-promotes-jeff-watts-to-succeed-dan-florness-as-president-florness-to-continue-as-ceo-020.htm

Fastenal Company Announces New President and Sales Leadership

Fastenal Company (FAST) has shared an update. Fastenal Company has announced the appointment of Mr. Jeffery M. Watts as the new President and Chief…

https://www.tipranks.com/news/company-announcements/fastenal-company-announces-new-president-and-sales-leadership

Jeff Watts Promoted to President and Chief Sales Officer of Fastenal, Dan Florness to Continue as CEO | FAST Stock News

Fastenal names Jeff Watts as President & CSO, effective Aug 1, 2024. With 28 years of experience, Watts will lead global sales across 25 countries.

https://www.stocktitan.net/news/FAST/jeff-watts-promoted-to-president-and-chief-sales-officer-of-fastenal-3fioz34kcm5c.html

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Fastenal Company Price History

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.