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

Global Industrial (NYSE:GIC) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

A number of other brokerages have also issued reports on GIC. Zacks Research raised shares of Global Industrial from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings restated a “hold (c)” rating on shares of Global Industrial in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Global Industrial Stock Up 0.2%

NYSE GIC opened at $30.65 on Friday. Global Industrial has a twelve month low of $20.79 and a twelve month high of $38.79. The business has a 50-day moving average price of $29.84 and a 200-day moving average price of $32.11. 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 0.90.

Hedge Funds Weigh In On Global Industrial

Institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System purchased a new position in shares of Global Industrial in the 4th quarter worth $38,000. Meritage Portfolio Management lifted its holdings 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 valued at $3,128,000 after acquiring an additional 27,623 shares during the last quarter. State of Alaska Department of Revenue grew its position 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 worth $133,000 after acquiring an additional 2,404 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Global Industrial during the fourth quarter worth approximately $386,000. Finally, Exchange Traded Concepts LLC raised its position 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 period. Institutional investors own 31.19% of the company’s stock.

About Global Industrial

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.