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

Global Industrial (NYSE:GIC) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Freedom Broker initiated coverage on shares of Global Industrial in a research note on Wednesday, October 14th. They issued a “hold” rating and a $39.00 price objective for the company. Weiss Ratings downgraded shares of Global Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Three equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, Global Industrial currently has a consensus rating of “Hold” and an average price target of $39.00.

Global Industrial Trading Down 0.1%

Shares of NYSE:GIC opened at $44.12 on Friday. The stock has a 50 day moving average of $40.73 and a 200 day moving average of $35.49. The company has a market cap of $1.68 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77. Global Industrial has a 12-month low of $26.40 and a 12-month high of $44.73.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Global Industrial had a net margin of 6.06% and a return on equity of 21.49%. The company had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $377.40 million. Equities research analysts predict that Global Industrial will post 1.87 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Claudia Hughes sold 4,753 shares of Global Industrial stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $39.78, for a total transaction of $189,074.34. Following the sale, the senior vice president owned 32,167 shares of the company’s stock, valued at approximately $1,279,603.26. This trade represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas Axmacher sold 952 shares of the business’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 value of $37,223.20. Following the completion of the transaction, the vice president directly owned 6,414 shares in the company, valued at approximately $250,787.40. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,287 shares of company stock valued at $363,904 in the last quarter. 64.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global Industrial

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Global Industrial during the second quarter valued at about $53,365,000. Dimensional Fund Advisors LP increased its holdings in shares of Global Industrial by 1.0% in 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 during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Global Industrial in the second quarter worth about $10,510,000. Hillsdale Investment Management Inc. lifted its position in shares of Global Industrial by 4.5% in the first quarter. Hillsdale Investment Management Inc. now owns 199,091 shares of the company’s stock worth $6,275,000 after buying an additional 8,600 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Global Industrial by 4.8% in the second quarter. Algert Global LLC now owns 141,594 shares of the company’s stock worth $4,738,000 after buying an additional 6,530 shares in the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Company Profile

Global Industrial Company (NYSE:GIC) is a distributor of industrial and maintenance, repair and operations (MRO) products. The company serves businesses, government agencies and other organizations through digital commerce, direct sales and product catalogs.

Its product range includes material-handling and storage equipment, shelving, cabinets, workstations, safety supplies, janitorial and facility-maintenance products, packaging supplies, tools, HVAC equipment and office furnishings. Global Industrial offers products from its own brands as well as third-party manufacturers, with solutions designed for workplaces, warehouses, commercial facilities and industrial operations.

The company primarily serves customers in the United States and Canada.