Fastenal Stock is Ready to Sprint Higher
Industrial and construction supplies wholesaler Fastenal (NASDAQ:FAST) stock has recently sold off on strong fiscal Q1 2022 earnings. The Company has experienced double-digit daily growth in each of its three divisions: Fasteners, Safety Products, and Other products which are composed of eight smaller product segments. The housing and construction boom has been a powerful tailwind as evidenced by the unit growth in sales for fiscal Q1 2022. Improved weather conditions from a year ago also helped to boost daily sales by 18.4%. The Company raised prices to mitigate the effects of inflation on it...