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

by · The Markets Daily

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

GIC has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a report on Wednesday, October 8th. Zacks Research downgraded Global Industrial from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Global Industrial has a consensus rating of “Reduce”.

View Our Latest Research Report on GIC

Global Industrial Stock Performance

NYSE:GIC opened at $29.79 on Monday. Global Industrial has a fifty-two week low of $20.79 and a fifty-two week high of $38.79. The company’s 50-day simple moving average is $29.12 and its 200-day simple moving average is $31.60. The stock has a market capitalization of $1.15 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.02 and a beta of 0.93.

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

Institutional Trading of Global Industrial

Several large investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in shares of Global Industrial during the 3rd quarter worth $6,985,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Global Industrial in the first quarter valued at about $3,427,000. Algert Global LLC acquired a new stake in shares of Global Industrial in the third quarter valued at approximately $5,329,000. Meritage Portfolio Management purchased a new position in shares of Global Industrial during the 2nd quarter worth approximately $2,128,000. Finally, Barclays PLC increased its stake in shares of Global Industrial by 164.7% during the 3rd quarter. Barclays PLC now owns 101,921 shares of the company’s stock worth $3,737,000 after purchasing an additional 63,414 shares in the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Company Profile

(Get Free Report)

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.

Read More