MRC Global (NYSE:MRC) Trading Up 1.4% on Analyst Upgrade

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Shares of MRC Global Inc. (NYSE:MRCGet Rating) were up 1.4% during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $14.00 to $16.00. The company traded as high as $10.90 and last traded at $10.88. 2,087 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 762,463 shares. The stock had previously closed at $10.73.

Several other research analysts have also commented on MRC. StockNews.com upgraded MRC Global from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th. TheStreet upgraded shares of MRC Global from a “d+” rating to a “c-” rating in a report on Tuesday, March 15th. Finally, Benchmark began coverage on shares of MRC Global in a report on Thursday, July 7th. They set a “buy” rating and a $14.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $13.50.

Institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in MRC Global in the 1st quarter valued at approximately $31,000. Lazard Asset Management LLC acquired a new stake in shares of MRC Global in the first quarter valued at $96,000. Point72 Hong Kong Ltd purchased a new stake in shares of MRC Global in the 1st quarter valued at $107,000. Scotia Capital Inc. acquired a new position in MRC Global during the 1st quarter worth about $127,000. Finally, Wedge Capital Management L L P NC purchased a new position in MRC Global during the 2nd quarter valued at about $107,000. 94.09% of the stock is currently owned by institutional investors and hedge funds.

The stock’s 50 day simple moving average is $10.48 and its 200-day simple moving average is $10.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.93 and a quick ratio of 0.98. The company has a market capitalization of $874.90 million, a PE ratio of -45.57 and a beta of 1.98.

MRC Global (NYSE:MRCGet Rating) last released its earnings results on Monday, May 9th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $742.00 million for the quarter, compared to analyst estimates of $717.48 million. MRC Global had a negative net margin of 0.04% and a positive return on equity of 14.63%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) EPS. On average, equities analysts predict that MRC Global Inc. will post 0.77 earnings per share for the current year.

MRC Global Company Profile (NYSE:MRC)

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.

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