Global Industrial (NYSE:GIC) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Global Industrial (NYSE:GIC) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Global Industrial in a report on Thursday, January 22nd. Zacks Research upgraded Global Industrial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Global Industrial Price Performance

NYSE:GIC opened at $30.65 on Friday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. The firm’s fifty day moving average price is $29.84 and its 200 day moving average price is $32.07. Global Industrial has a 1-year low of $20.79 and a 1-year high of $38.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GIC. New York State Teachers Retirement System acquired a new position in shares of Global Industrial during the 4th quarter valued at $38,000. Meritage Portfolio Management increased its position in shares of Global Industrial by 34.8% in the 4th quarter. Meritage Portfolio Management now owns 107,047 shares of the company’s stock worth $3,128,000 after purchasing an additional 27,623 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Global Industrial by 111.4% in the fourth quarter. State of Alaska Department of Revenue now owns 4,562 shares of the company’s stock valued at $133,000 after buying an additional 2,404 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Global Industrial in the 4th quarter valued at approximately $386,000. Finally, Exchange Traded Concepts LLC increased its stake in Global Industrial by 11.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,544 shares of the company’s stock valued at $250,000 after purchasing an additional 888 shares during the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

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.