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

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

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Global Industrial in a report on Thursday, January 22nd. Zacks Research raised Global Industrial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Industrial currently has a consensus rating of “Hold”.

Global Industrial Stock Performance

NYSE GIC opened at $30.65 on Friday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 0.96 and a beta of 0.88. The business has a 50 day simple moving average of $29.84 and a 200 day simple moving average of $32.04. Global Industrial has a 52-week low of $20.79 and a 52-week high of $38.79.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.48 earnings per share 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 company had revenue of $353.60 million during the quarter, compared to analyst estimates of $357.00 million. On average, analysts predict that Global Industrial will post 1.59 EPS for the current year.

Hedge Funds Weigh In On Global Industrial

Hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System bought a new stake in Global Industrial during the fourth quarter worth about $38,000. Meritage Portfolio Management grew its stake in Global Industrial by 34.8% in 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 increased its position in shares of Global Industrial by 111.4% during the 4th 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 acquired a new stake in Global Industrial during the fourth quarter worth approximately $386,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Global Industrial by 11.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,544 shares of the company’s stock worth $250,000 after acquiring 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.