Global Industrial (NYSE:GIC) Cut to “Buy” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Global Industrial (NYSE:GIC – Free Report) from a strong-buy rating to a buy rating in a report issued on Saturday.

Other equities research analysts have also issued research reports about the stock. Zacks Research lowered shares of Global Industrial from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Read Our Latest Stock Analysis on Global Industrial

Global Industrial Trading Down 1.6%

Shares of NYSE:GIC opened at $26.85 on Friday. The stock has a market cap of $1.03 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. The stock’s fifty day simple moving average is $34.52 and its two-hundred day simple moving average is $30.96. Global Industrial has a 1-year low of $20.79 and a 1-year high of $38.79.

Global Industrial (NYSE:GIC – Get Free Report) last announced its 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 firm had revenue of $353.60 million during the quarter, compared to analysts’ expectations of $357.00 million. On average, sell-side analysts forecast that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Global Industrial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, November 10th. Global Industrial’s dividend payout ratio is currently 59.43%.

Hedge Funds Weigh In On Global Industrial

Several institutional investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new stake in Global Industrial in the third quarter worth $6,985,000. GSA Capital Partners LLP grew its stake in shares of Global Industrial by 6.5% during the 3rd quarter. GSA Capital Partners LLP now owns 9,410 shares of the company’s stock worth $345,000 after acquiring an additional 574 shares during the period. Vanguard Group Inc. increased its holdings in Global Industrial by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 822,006 shares of the company’s stock worth $30,143,000 after acquiring an additional 17,194 shares during the last quarter. Rhumbline Advisers increased its holdings in Global Industrial by 3.2% in the 3rd quarter. Rhumbline Advisers now owns 21,207 shares of the company’s stock worth $778,000 after acquiring an additional 666 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in Global Industrial in the 3rd quarter valued at about $445,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

About Global Industrial

(Get Free Report)

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.

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