Global Industrial (NYSE:GIC) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Global Industrial from “buy” to “strong-buy,” although the broader analyst consensus remains “Hold” with a $39.00 price target.
• Global Industrial reported quarterly EPS of $0.54, matching estimates, while revenue of $386.6 million exceeded the $377.4 million analyst forecast. Analysts expect full-year EPS of approximately $1.87.
• The stock opened at $43.37, near its 52-week high of $45.19. Insiders sold 9,287 shares worth about $363,904 during the last quarter, while institutional investors own 31.19% of the company.

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 report released on Monday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut 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 Global Industrial in a report on Wednesday, October 14th. They set a "hold" rating and a $39.00 price objective for the company. Three research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $39.00.

Global Industrial Stock Performance

Global Industrial stock opened at $43.37 on Monday. The company has a fifty day simple moving average of $41.78 and a 200 day simple moving average of $34.95. Global Industrial has a 1-year low of $26.40 and a 1-year high of $45.19. The company has a market cap of $1.65 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.45 and a beta of 0.75.

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

Insider Buying and Selling at Global Industrial

In other news, SVP Claudia Hughes sold 4,753 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $39.78, for a total value of $189,074.34. Following the completion of the transaction, the senior vice president directly owned 32,167 shares in the company, valued at $1,279,603.26. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas Axmacher sold 952 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $39.10, for a total transaction of $37,223.20. Following the sale, the vice president owned 6,414 shares in the company, valued at $250,787.40. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,287 shares of company stock valued at $363,904 over the last quarter. Company insiders own 64.51% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GIC. BlackRock Inc. purchased a new stake in shares of Global Industrial in the 2nd quarter worth approximately $53,365,000. Dimensional Fund Advisors LP grew its stake in shares of Global Industrial by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 893,325 shares of the company's stock worth $28,155,000 after purchasing an additional 8,901 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Global Industrial in the second quarter valued at about $10,510,000. Hillsdale Investment Management Inc. increased its stake in Global Industrial by 4.5% during the first quarter. Hillsdale Investment Management Inc. now owns 199,091 shares of the company's stock worth $6,275,000 after acquiring an additional 8,600 shares during the last quarter. Finally, Algert Global LLC grew its holdings in shares of Global Industrial by 4.8% during the second quarter. Algert Global LLC now owns 141,594 shares of the company's stock valued at $4,738,000 after purchasing an additional 6,530 shares during the last quarter. Institutional investors own 31.19% of the company's stock.

Global Industrial Company Profile

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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