Fastenal literally provides the nuts and bolts to keep industry growing, via its 1,683 construction supplies stores. When the market turned bear last year, Fastenal stock dipped too. But like other market leaders it began a slow climb last October. It's risen 26% in the intervening months and on Monday its Relative Strength (RS) Rating popped from 69 to 76.
The upgraded 76 RS Rating puts Fastenal stock in the top quartile in terms of price performance over the last year. It's closing in on a key benchmark. Market research shows that the market's biggest winners tend to have an 80 or better RS Rating as they begin their biggest runs.
Fastenal Stock Composite Rating Shines
Among its other key ratings Winona, Minn.-based Fastenal, south of Minneapolis, earns a strong 89 Earnings Per Share Rating. In terms of fundamentals, it also carries an A SMR Rating (sales + profit margins + return on equity), on an A-to-E scale with A terrific and E a bottom feeder. Its Composite Rating is 91, putting it in the top 9% of stocks overall. Additionally the B+ Accumulation/Distribution Rating on an A+ to E scale demonstrates that big funds are fairly heavy buyers of Fastenal stock.
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Fastenal stock is building a consolidation pattern with a 60.84 entry. See if the stock can break out in heavy trade. On Monday it closed at 55.29, down a fraction for the day.
Steady Sales, Profit Growing
Fastenal posted year-over-year sales and profit gains every quarter the past year despite the bear market. In its most recent report it recorded an 11% increase in earnings to 52 cents per share on a 9% increase in sales to $1.86 billion.
Fastenal stock earns the No. 5 rank among its peers in the Machinery-Tools & Related industry group. W.W. Grainger and Applied Industrial Technologies are also among the group's highest-rated stocks.
As you try to find the best stocks to buy and watch, one metric to keep an eye on is relative price strength.
This proprietary Relative Strength Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
