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

by · The Cerbat Gem

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

Several other brokerages have also recently weighed in on GIC. Weiss Ratings cut shares of Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 25th. Freedom Broker initiated coverage on shares of Global Industrial in a report on Wednesday, October 14th. They issued a “hold” rating and a $39.00 price objective on the stock. Three research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.00.

Get Our Latest Stock Analysis on Global Industrial

Global Industrial Stock Performance

NYSE:GIC opened at $44.09 on Monday. The company has a market cap of $1.68 billion, a PE ratio of 19.68, a PEG ratio of 1.47 and a beta of 0.75. Global Industrial has a 52-week low of $26.40 and a 52-week high of $45.19. The stock has a 50-day simple moving average of $41.96 and a 200 day simple moving average of $35.08.

Global Industrial (NYSE:GIC – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $377.40 million. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%. On average, research analysts predict that Global Industrial will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Global Industrial

In other Global Industrial news, SVP Claudia Hughes sold 4,753 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $39.78, for a total transaction of $189,074.34. Following the transaction, the senior vice president owned 32,167 shares of the company’s stock, valued at $1,279,603.26. The trade was a 12.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas Axmacher sold 1,848 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total value of $71,332.80. Following the sale, the vice president owned 7,366 shares in the company, valued at approximately $284,327.60. This represents a 20.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,287 shares of company stock worth $363,904 in the last ninety days. Insiders own 64.51% of the company’s stock.

Hedge Funds Weigh In On Global Industrial

Institutional investors have recently added to or reduced their stakes in the company. State of Wyoming raised its holdings in shares of Global Industrial by 17.2% in the 3rd quarter. State of Wyoming now owns 7,679 shares of the company’s stock valued at $322,000 after purchasing an additional 1,125 shares during the period. Signaturefd LLC lifted its stake in Global Industrial by 143.3% in the 3rd quarter. Signaturefd LLC now owns 1,428 shares of the company’s stock valued at $60,000 after purchasing an additional 841 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Global Industrial by 166.4% during the third quarter. Nisa Investment Advisors LLC now owns 6,639 shares of the company’s stock worth $278,000 after purchasing an additional 4,147 shares during the period. Tidal Investments LLC bought a new position in Global Industrial during the second quarter worth about $604,000. Finally, Corient Private Wealth LP bought a new position in Global Industrial during the second quarter worth about $260,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

Global Industrial News Summary

Here are the key news stories impacting Global Industrial this week:

  • Positive Sentiment: Q3 adjusted earnings were $0.64 per share, above the $0.55 analyst consensus and up from $0.48 a year earlier. Revenue of $389.5 million also topped estimates of about $385.4 million. Zacks Q3 earnings report
  • Positive Sentiment: The company announced a $1 dividend, an additional potential attraction for shareholders. Q3 results and dividend report
  • Neutral Sentiment: Management anticipates Q4 gross margin will be broadly in line with the year-ago 34.5% level. That suggests stability, though transportation costs remain a headwind. Q4 gross-margin outlook

Global Industrial Company Profile

(Get Free Report)

Global Industrial Company (NYSE:GIC) is a distributor of industrial, commercial and business products serving organizations across North America. The company sells products through its e-commerce platforms, catalogs and sales representatives, serving businesses, government agencies, educational institutions and other commercial customers.

Its product offerings include material-handling and storage equipment, shelving, cabinets, workbenches, safety supplies, janitorial and sanitation products, packaging materials, tools, lighting, HVAC equipment, office furniture and other facility-maintenance products.

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