Global Industrial (NYSE:GIC) Stock Rating Upgraded by Wall Street Zen

Key Points

• Global Industrial (NYSE:GIC) has been upgraded from a "buy" to a "strong-buy" rating by analysts at Wall Street Zen, indicating increased confidence in the company's prospects.
• The company reported quarterly earnings of $0.65 per share, surpassing the consensus estimate of $0.50, alongside revenue of $358.90 million.
• Several institutional investors have increased their stakes in Global Industrial, with significant boosts observed, such as a 139.0% increase by JPMorgan Chase & Co..

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 research note issued to investors on Saturday.

Global Industrial Trading Down 2.5%

NYSE GIC opened at $33.22 on Friday. The firm's fifty day moving average price is $27.58 and its two-hundred day moving average price is $25.15. The firm has a market capitalization of $1.27 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.09 and a beta of 0.80. Global Industrial has a 1 year low of $20.79 and a 1 year high of $35.05.

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

Institutional Investors Weigh In On Global Industrial

Several institutional investors have recently made changes to their positions in GIC. Sei Investments Co. lifted its holdings in shares of Global Industrial by 42.4% during the 4th quarter. Sei Investments Co. now owns 8,884 shares of the company's stock worth $220,000 after acquiring an additional 2,645 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Global Industrial in the 4th quarter worth about $283,000. JPMorgan Chase & Co. raised its holdings in Global Industrial by 139.0% in the 4th quarter. JPMorgan Chase & Co. now owns 109,941 shares of the company's stock valued at $2,725,000 after buying an additional 63,936 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Global Industrial by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 319,056 shares of the company's stock worth $7,912,000 after purchasing an additional 2,973 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of Global Industrial in the 4th quarter valued at about $298,000. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Company Profile

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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