Fastenal (FAST) Stock Looks Rich Even After Stronger Earnings

Fastenal has delivered a strong run in recent years, and the question now is whether the current share price properly reflects what its earnings justify. With the stock around US$51.91, investors are asking how much of the recent profitability story is already embedded in that valuation. Over the past 5 years the stock has returned about 104.1%. This puts real focus on whether the earnings stream today can support that kind of rerating. Recent profit growth, margin improvement and investment...