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 report issued on Friday morning.

Other equities research analysts have also issued research reports about the company. Susquehanna reaffirmed a “positive” rating and set a $16.00 price target on shares of MRC Global in a research note on Wednesday, June 26th. Stifel Nicolaus boosted their target price on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th.

MRC Global Trading Down 0.2 %

Shares of MRC opened at $12.57 on Friday. MRC Global has a twelve month low of $9.47 and a twelve month high of $14.91. The stock has a market cap of $1.07 billion, a PE ratio of 14.62 and a beta of 1.97. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $12.52 and its 200-day moving average price is $12.73.

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. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The company had revenue of $832.00 million during the quarter, compared to analyst estimates of $831.32 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. On average, equities analysts forecast that MRC Global will post 0.91 EPS for the current fiscal year.

Institutional Trading of MRC Global

Several large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of MRC Global by 20.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,575 shares of the oil and gas company’s stock worth $198,000 after purchasing an additional 2,639 shares during the period. Essex Investment Management Co. LLC raised its stake in MRC Global by 0.4% in the third quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock worth $3,824,000 after buying an additional 1,063 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in MRC Global in the second quarter worth about $312,000. Quarry LP lifted its holdings in MRC Global by 162.8% in the second quarter. Quarry LP now owns 7,333 shares of the oil and gas company’s stock worth $95,000 after buying an additional 4,543 shares during the period. Finally, Algert Global LLC boosted its position in MRC Global by 71.1% during 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 in the last quarter. Institutional investors own 94.97% of the company’s stock.

About MRC Global

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.