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

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

Global Industrial Stock Performance

Shares of Global Industrial stock opened at $33.22 on Friday. The firm’s 50-day simple moving average is $27.58 and its 200-day simple moving average is $25.16. Global Industrial has a twelve month low of $20.79 and a twelve month high of $35.05. The firm has a market cap of $1.27 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.06 and a beta of 0.80.

Global Industrial (NYSE:GIC) last issued its earnings results on Tuesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. The business had revenue of $358.90 million for the quarter, compared to analyst estimates of $351.81 million. On average, equities analysts forecast that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global Industrial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIC. J. Goldman & Co LP boosted its position in Global Industrial by 559.7% in the fourth quarter. J. Goldman & Co LP now owns 494,650 shares of the company’s stock valued at $12,262,000 after buying an additional 419,672 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Global Industrial by 82.0% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 401,534 shares of the company’s stock valued at $8,994,000 after buying an additional 180,870 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Global Industrial in the fourth quarter valued at about $4,001,000. Jacobs Levy Equity Management Inc. acquired a new position in Global Industrial in the first quarter valued at about $3,427,000. Finally, Nuveen LLC acquired a new position in Global Industrial in the first quarter valued at about $1,802,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

About Global Industrial

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.