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

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

GIC has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Global Industrial in a research report on Thursday, January 22nd. Zacks Research upgraded Global Industrial from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Global Industrial Stock Performance

GIC opened at $30.65 on Friday. The stock has a fifty day moving average of $29.84 and a 200-day moving average of $32.04. The company has a market capitalization of $1.18 billion, a P/E ratio of 17.51, a P/E/G ratio of 0.96 and a beta of 0.88. Global Industrial has a fifty-two week low of $20.79 and a fifty-two week high of $38.79.

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

Institutional Investors Weigh In On Global Industrial

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in Global Industrial in the 4th quarter worth about $38,000. Meritage Portfolio Management boosted its stake in shares of Global Industrial by 34.8% during the fourth quarter. Meritage Portfolio Management now owns 107,047 shares of the company’s stock valued at $3,128,000 after purchasing an additional 27,623 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Global Industrial by 111.4% during the fourth quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company’s stock worth $133,000 after purchasing an additional 2,404 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Global Industrial during the fourth quarter worth about $386,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Global Industrial by 11.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 8,544 shares of the company’s stock valued at $250,000 after buying an additional 888 shares during the period. Institutional investors own 31.19% of the company’s stock.

About Global Industrial

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.