MRC Global (NYSE:MRC) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of MRC Global (NYSE:MRC) from a strong-buy rating to a buy rating in a research note released on Thursday.

Separately, Susquehanna reissued a positive rating and set a $16.00 price target on shares of MRC Global in a research note on Wednesday, June 26th.

MRC Global Price Performance

NYSE:MRC opened at $12.91 on Thursday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 15.01 and a beta of 1.97. MRC Global has a 1 year low of $9.47 and a 1 year high of $14.91. The business has a 50 day simple moving average of $12.52 and a 200-day simple moving average of $12.72. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. The business had revenue of $832.00 million during the quarter, compared to analyst estimates of $831.32 million. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Equities analysts forecast that MRC Global will post 0.91 EPS for the current year.

Institutional Investors Weigh In On MRC Global

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC raised its position in MRC Global by 0.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock valued at $3,824,000 after purchasing an additional 1,063 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of MRC Global in the 2nd quarter valued at $312,000. Quarry LP increased its holdings in shares of MRC Global by 162.8% in the 2nd quarter. Quarry LP now owns 7,333 shares of the oil and gas company’s stock valued at $95,000 after acquiring an additional 4,543 shares during the period. Algert Global LLC increased its holdings in shares of MRC Global by 71.1% in the 2nd quarter. Algert Global LLC now owns 302,221 shares of the oil and gas company’s stock valued at $3,902,000 after acquiring an additional 125,574 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in MRC Global by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock worth $414,000 after buying an additional 1,289 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.