Fastenal Company ( FAST ) saw a big move last session, as the company's shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $45.68 to $48.21 in the past one-month time frame.
This slump shouldn't be too much of a surprise to investors, as this wholesaler and retailer of industrial and construction supplies has seen 6 negative revisions in the past few weeks. Subsequently, its current year earnings consensus has also moved lower over the same time frame. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
FAST currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP
Some better-ranked building product retailers and wholesalers include Builders FirstSource, Inc. ( BLDR
), The Home Depot, Inc.
) and Lumber Liquidators Holdings, Inc.
). All these stocks carry a Zacks Rank #2 (Buy).
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