Why Fastenal (FAST) is a Top Growth Stock for the Long-Term
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
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
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate 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, mostly located in North America.
FAST sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of A, and has a VGM Score of B. Earnings and sales are forecasted to increase 5.8% and 5.1% year-over-year, respectively.
Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.02 to $2 per share. FAST boasts an average earnings surprise of 2.6%.
Fastenal is also cash rich. The company has generated cash flow growth of 13.1%, and is expected to report cash flow expansion of 15.3% in 2023.
FAST should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Fastenal Company (FAST) : Free Stock Analysis Report
