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Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

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

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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 mostly located in North America.

FAST sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 16.9% and 15.6% year-over-year, respectively.

Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2022. The Zacks Consensus Estimate has increased $0 to $1.87 per share. FAST boasts an average earnings surprise of 4.8%.

Fastenal is also cash rich. The company has generated cash flow growth of 12.7%, and is expected to report cash flow expansion of 7.3% in 2022.

FAST should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.


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