Global Industrial (NYSE:GIC) Cut to “Hold” at Zacks Research

Global Industrial (NYSE:GIC) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Wall Street Zen raised shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Global Industrial Stock Performance

GIC opened at $36.73 on Monday. The company has a 50-day moving average of $35.37 and a 200-day moving average of $28.73. The company has a market capitalization of $1.41 billion, a P/E ratio of 21.48, a PEG ratio of 1.16 and a beta of 0.84. Global Industrial has a 1-year low of $20.79 and a 1-year high of $38.79.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, July 29th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.15. Global Industrial had a net margin of 5.00% and a return on equity of 22.89%. The company had revenue of $358.90 million during the quarter, compared to the consensus estimate of $351.81 million. As a group, sell-side analysts expect that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Institutional Trading of Global Industrial

A number of institutional investors have recently made changes to their positions in GIC. CWM LLC lifted its stake in shares of Global Industrial by 187.7% in the 1st quarter. CWM LLC now owns 1,614 shares of the company’s stock worth $36,000 after acquiring an additional 1,053 shares during the period. GAMMA Investing LLC lifted its stake in shares of Global Industrial by 1,600.0% in the 1st quarter. GAMMA Investing LLC now owns 2,397 shares of the company’s stock worth $54,000 after acquiring an additional 2,256 shares during the period. US Bancorp DE lifted its stake in shares of Global Industrial by 954.3% in the 1st quarter. US Bancorp DE now owns 3,068 shares of the company’s stock worth $69,000 after acquiring an additional 2,777 shares during the period. Quantbot Technologies LP lifted its stake in shares of Global Industrial by 25.8% in the 1st quarter. Quantbot Technologies LP now owns 4,548 shares of the company’s stock worth $102,000 after acquiring an additional 934 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Global Industrial in the 2nd quarter worth approximately $117,000. 31.19% of the stock is owned by institutional investors and hedge funds.

About Global Industrial

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.