7 Stocks Hitting New Highs
Fastenal (FAST) sells industrial and construction supplies in a wholesale and retail fashion. This stock is trading up 1% at $42.92 in recent trading after hitting a 52-week high of $43.04 earlier in the day.
Today's Range: $$42.45-$43.0452-week Range: $$28.81-$43.04 Volume: 1.1 million shares Three-Month Average Volume: 2.75 million shares Fastenal, one of TheStreet Ratings' top-rated supplier and distributor stocks, has a market cap of $12.69 billion and an enterprise value of $12.42 billion. The stock trades at a trailing price-to-earnings of 38.02 and a forward price-to-earnings of 30.47. Its estimated growth rate for this year is 35.6%, and for next year it's pegged at 15.6%. From a technical standpoint, this stock has started to flirt with a big breakout level now that shares are bumping up against some past overhead resistance at $41.65. Market players should now watch for a sustained move and close on high-volume above $41.65 to trigger a breakout trade. Look for volume that's tracking in close to or above 2,752,740 shares on a close above $41.65.
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