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

Global Industrial (NYSE:GIC) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Several other research analysts have also recently issued reports on the stock. Zacks Research upgraded shares of Global Industrial from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Global Industrial Stock Down 0.6%

Shares of NYSE:GIC opened at $31.45 on Friday. The business’s 50 day moving average is $29.09 and its 200 day moving average is $31.91. The stock has a market cap of $1.21 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. Global Industrial has a 52-week low of $20.79 and a 52-week high of $38.79.

Global Industrial (NYSE:GIC) last issued its 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 return on equity of 22.85% and a net margin of 5.11%.The firm had revenue of $353.60 million during the quarter, compared to analysts’ expectations of $357.00 million. On average, sell-side analysts anticipate that Global Industrial will post 1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GIC. Hillsdale Investment Management Inc. acquired a new stake in Global Industrial in the third quarter valued at approximately $6,985,000. Algert Global LLC purchased a new stake in shares of Global Industrial during the 3rd quarter valued at $5,329,000. Meritage Portfolio Management purchased a new stake in shares of Global Industrial during the 2nd quarter valued at $2,128,000. Barclays PLC boosted its position in shares of Global Industrial by 164.7% in 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. Finally, Tudor Investment Corp ET AL purchased a new position in Global Industrial during the 3rd quarter worth $2,284,000. Institutional investors own 31.19% of the company’s stock.

Global Industrial Company Profile

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.