Global Industrial (NYSE:GIC) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Global Industrial has received a "hold (c)" rating from Weiss Ratings, indicating a neutral outlook on the stock.
• Sales of $358.90 million in the last quarter exceeded analyst estimates, with earnings per share reported at $0.65.
• Institutional investors have significantly increased their stakes in Global Industrial, with notable increases from CWM LLC and GAMMA Investing LLC during the first quarter.

Global Industrial (NYSE:GIC - Get Free Report)'s stock had its "hold (c)" rating reiterated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

GIC has been the topic of several other research reports. Wall Street Zen raised Global Industrial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Zacks Research cut Global Industrial from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Global Industrial has an average rating of "Hold".

Global Industrial Stock Performance

NYSE GIC opened at $34.95 on Wednesday. Global Industrial has a twelve month low of $20.79 and a twelve month high of $38.79. The stock has a market capitalization of $1.34 billion, a PE ratio of 20.44, a P/E/G ratio of 1.11 and a beta of 0.87. The stock has a 50-day simple moving average of $36.19 and a 200 day simple moving average of $29.22.

Global Industrial (NYSE:GIC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. The company had revenue of $358.90 million for the quarter, compared to analyst estimates of $351.81 million. Global Industrial had a return on equity of 22.89% and a net margin of 5.00%. As a group, equities research analysts forecast that Global Industrial will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Industrial

Hedge funds have recently modified their holdings of the stock. CWM LLC grew its stake in Global Industrial by 187.7% in the 1st quarter. CWM LLC now owns 1,614 shares of the company's stock valued at $36,000 after buying an additional 1,053 shares in the last quarter. GAMMA Investing LLC raised its stake in Global Industrial by 1,600.0% in the first quarter. GAMMA Investing LLC now owns 2,397 shares of the company's stock worth $54,000 after buying an additional 2,256 shares in the last quarter. US Bancorp DE boosted its position 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 purchasing an additional 2,777 shares in the last quarter. Quantbot Technologies LP increased its position in Global Industrial by 25.8% during the 1st quarter. Quantbot Technologies LP now owns 4,548 shares of the company's stock valued at $102,000 after buying an additional 934 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Global Industrial during the second quarter valued at approximately $117,000. Institutional investors own 31.19% of the company's stock.

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.

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