Fastenal Company (FAST) : Traders are bullish on Fastenal Company (FAST) as it has outperformed the S&P 500 by a wide margin of 4.06% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.32%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.29% in the last 1 week, and is up 4.46% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Fastenal Company has dropped 1.21% during the last 3-month period . Year-to-Date the stock performance stands at 10.16%. The stock has recorded a 20-day Moving Average of 3.02% and the 50-Day Moving Average is 1.56%.
Fastenal Company (NASDAQ:FAST): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $43.75 and $43.43 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $44.05. The buying momentum continued till the end and the stock did not give up its gains. It closed at $44.00, notching a gain of 0.25% for the day. The total traded volume was 1,113,757 . The stock had closed at $43.89 on the previous day.
Also, Morgan Stanley initiates coverage on Fastenal Company (NASDAQ:FAST). The current rating of the shares is Equal-weight, according to the research report released by the firm. The brokerage firm announces the price target at $46 per share. The rating by the firm was issued on July 7, 2016.
Fastenal Company sells industrial and construction supplies to end-users (business-to-business), and also has some walk-in retail business. The Companys product offerings include fasteners and other industrial and construction supplies, many of which are sold under the Fastenal product name. The Companys product line, which it refers to as the fastener product line, consists of two categories: threaded fasteners, such as bolts, nuts, screws, studs and related washers, and miscellaneous supplies and hardware, such as various pins and machinery keys, concrete anchors, metal framing systems, wire rope, strut, rivets and related accessories. The Companys product line includes fasteners, cutting tools, tools, hydraulics and pneumatics, material handling, janitorial supplies, electrical supplies, welding supplies, safety supplies, metals, direct ship and office supplies. It operates approximately 14 distribution centers in North America.