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

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

Several other 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 research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Global Industrial in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Global Industrial Price Performance

NYSE:GIC opened at $30.12 on Monday. The business’s 50-day moving average is $29.32 and its two-hundred day moving average is $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 12 month low of $20.79 and a 12 month high of $38.79.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in shares of Global Industrial in the 3rd quarter worth about $79,000. State of Wyoming acquired a new position in Global Industrial in the second quarter worth about $117,000. CWM LLC grew its stake in Global Industrial by 185.2% in the second quarter. CWM LLC now owns 4,603 shares of the company’s stock worth $124,000 after purchasing an additional 2,989 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Global Industrial by 3,930.6% in the first quarter. Russell Investments Group Ltd. now owns 6,852 shares of the company’s stock valued at $153,000 after buying an additional 6,682 shares during the last quarter. Finally, Arizona State Retirement System acquired a new stake in Global Industrial during the third quarter valued at approximately $208,000. 31.19% of the stock is currently owned by institutional investors.

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.