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

Global Industrial (NYSE:GIC) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other brokerages have also recently weighed in on GIC. Weiss Ratings cut shares of Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 25th. Freedom Broker started coverage on shares of Global Industrial in a research note on Wednesday, October 14th. They issued a “hold” rating and a $39.00 target price on the stock. Three equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.00.

Global Industrial Stock Performance

GIC opened at $44.71 on Friday. The firm has a market cap of $1.70 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.49 and a beta of 0.77. The business has a 50 day moving average price of $41.35 and a 200 day moving average price of $34.69. Global Industrial has a twelve month low of $26.40 and a twelve month high of $45.19.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $377.40 million. As a group, analysts anticipate that Global Industrial will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Global Industrial

In other Global Industrial news, SVP Claudia Hughes sold 4,753 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $39.78, for a total value of $189,074.34. Following the sale, the senior vice president owned 32,167 shares of the company’s stock, valued at $1,279,603.26. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas Axmacher sold 952 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $39.10, for a total value of $37,223.20. Following the completion of the sale, the vice president directly owned 6,414 shares in the company, valued at $250,787.40. This trade represents a 12.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,287 shares of company stock valued at $363,904. 64.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Industrial

Hedge funds have recently modified their holdings of the business. Signaturefd LLC grew its stake in shares of Global Industrial by 143.3% in the third quarter. Signaturefd LLC now owns 1,428 shares of the company’s stock worth $60,000 after acquiring an additional 841 shares during the last quarter. Bard Associates Inc. acquired a new position in Global Industrial during the 2nd quarter valued at $67,000. Empowered Funds LLC acquired a new position in Global Industrial during the 2nd quarter valued at $211,000. Odyssean LLC acquired a new position in Global Industrial during the 2nd quarter valued at $217,000. Finally, State of Wyoming bought a new stake in Global Industrial in the 2nd quarter valued at $219,000. 31.19% of the stock is owned by institutional investors.

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.