Global Industrial (NYSE:GIC) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Global Industrial to “strong-buy” from “buy,” while Weiss Ratings also raised its assessment to “hold (c+).” Despite these upgrades, the overall analyst consensus remains “Hold.”
• Global Industrial reported quarterly EPS of $0.54, in line with estimates, while revenue of $386.6 million exceeded the $377.4 million consensus forecast.
• The stock was trading near its 12-month high at $39.34, with a $1.50 billion market capitalization; hedge funds and other institutional investors own approximately 31.19% of the company.

Global Industrial (NYSE:GIC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

Separately, Weiss Ratings upgraded Global Industrial from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold".

Global Industrial Trading Down 0.8%

Global Industrial stock opened at $39.34 on Friday. The business's 50 day simple moving average is $33.70 and its 200 day simple moving average is $32.28. Global Industrial has a 12 month low of $26.40 and a 12 month high of $40.26. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.32 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 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.54. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%.The business had revenue of $386.60 million during the quarter, compared to the consensus estimate of $377.40 million. As a group, equities research analysts forecast that Global Industrial will post 1.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System bought a new stake in Global Industrial during the 4th quarter valued at $38,000. Advisors Asset Management Inc. boosted its holdings in shares of Global Industrial by 234.9% in the fourth quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company's stock worth $73,000 after acquiring an additional 1,755 shares during the period. State of Wyoming bought a new position in shares of Global Industrial in the second quarter worth $117,000. State of Alaska Department of Revenue grew its position in shares of Global Industrial by 111.4% in the fourth quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company's stock valued at $133,000 after purchasing an additional 2,404 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new position in shares of Global Industrial in the fourth quarter valued at $214,000. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

About Global Industrial

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.

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