Here's Why Fastenal (FAST) is a Strong Growth Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Fastenal (FAST)
Based in Winona, MN, Fastenal Company is a national wholesale distributor of industrial and construction supplies. The company distributes its products through more than 3,200 company-owned stores, primarily located in North America.
FAST boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 6.4% year-over-year for 2024, while Wall Street anticipates its top line to improve by 6%.
Five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $2.15 per share for 2024. FAST boasts an average earnings surprise of 2.6%.
On a historic basis, Fastenal has generated cash flow growth of 8.3%, and is expected to report cash flow expansion of 5.5% this year.
Investors should take the time to consider FAST for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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Fastenal Company (FAST) : Free Stock Analysis Report
