Global Industrial (NYSE:GIC) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of Global Industrial (NYSE:GIC) from a strong-buy rating to a buy rating in a report issued on Saturday.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Global Industrial in a report on Wednesday, October 8th. Zacks Research raised Global Industrial from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Global Industrial Price Performance

GIC stock opened at $31.45 on Friday. The company has a market capitalization of $1.21 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. Global Industrial has a 12 month low of $20.79 and a 12 month high of $38.79. The firm’s fifty day simple moving average is $29.09 and its 200-day simple moving average is $31.88.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, October 28th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). Global Industrial had a net margin of 5.11% and a return on equity of 22.85%. The business had revenue of $353.60 million for the quarter, compared to analyst estimates of $357.00 million. As a group, sell-side analysts forecast that Global Industrial will post 1.59 earnings per share for the current year.

Global Industrial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 10th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, November 10th. Global Industrial’s dividend payout ratio is presently 59.43%.

Institutional Investors Weigh In On Global Industrial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in Global Industrial during the third quarter valued at $79,000. State of Wyoming purchased a new position in Global Industrial in the 2nd quarter valued at about $117,000. CWM LLC boosted its holdings in Global Industrial by 185.2% in the 2nd quarter. CWM LLC now owns 4,603 shares of the company’s stock worth $124,000 after buying an additional 2,989 shares during the last quarter. Arizona State Retirement System acquired a new stake in Global Industrial in the 3rd quarter worth about $208,000. Finally, Quantbot Technologies LP increased its stake in Global Industrial by 242.0% during the 3rd quarter. Quantbot Technologies LP now owns 5,958 shares of the company’s stock worth $218,000 after buying an additional 4,216 shares in the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Company Profile

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.