Fastenal is a North American leader in industrial material distribution and construction. Its manufactures fastening products, pneumatic and hydraulic tools, electrical materials, and cutting and welding equipments.
 
As the income statement chart remarked (financials heading), the Fastenal company should be able to increase its revenue and margins to be more successful in the future. According to analysts polled by Thomson Reuters, earnings per share is regularly revised upward (revisions heading), showing dynamism in the company’s business.
 
Since mid-october, Fastenal’s stock rose by more than 53%, it is in upward trend on all time horizons. This trend might continue bolstered by 20-days moving average. Buy momentum is imposing itself again. Exceeding the $51.70 resistance would help to fix new upward targets.
 
In this context, investors could take a buy position above $51.70 in closing price to target $59.45. However, a stop loss should be fixed at $48.