Global Industrial (NYSE:GIC) Raised to “Strong-Buy” at Wall Street Zen

Global Industrial (NYSE:GIC) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

Several other equities analysts also recently issued reports on GIC. Zacks Research downgraded shares of Global Industrial from a “hold” rating to a “strong sell” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Global Industrial in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Global Industrial has a consensus rating of “Reduce”.

Global Industrial Trading Up 0.8%

NYSE:GIC opened at $30.12 on Monday. The stock has a 50 day moving average of $29.32 and a 200-day moving average of $31.55. The firm has a market capitalization of $1.16 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93. Global Industrial has a 52 week low of $20.79 and a 52 week high of $38.79.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.10). Global Industrial had a return on equity of 22.85% and a net margin of 5.11%.The company had revenue of $353.60 million during the quarter, compared to the consensus estimate of $357.00 million. As a group, analysts predict that Global Industrial will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Industrial

Several institutional investors have recently bought and sold shares of GIC. State of Alaska Department of Revenue acquired a new position in Global Industrial during the 3rd quarter valued at about $79,000. State of Wyoming acquired a new stake in shares of Global Industrial in the 2nd quarter worth approximately $117,000. CWM LLC boosted its holdings in shares of Global Industrial by 185.2% in the second quarter. CWM LLC now owns 4,603 shares of the company’s stock valued at $124,000 after acquiring an additional 2,989 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of Global Industrial during the third quarter valued at approximately $208,000. Finally, Quantbot Technologies LP increased its stake in shares of Global Industrial by 242.0% during the third quarter. Quantbot Technologies LP now owns 5,958 shares of the company’s stock valued at $218,000 after acquiring an additional 4,216 shares during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Company Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.