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 Friday morning.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus upped their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday. Susquehanna reiterated a “positive” rating and set a $16.00 price target on shares of MRC Global in a research report on Wednesday, June 26th.

MRC Global Trading Down 0.5 %

Shares of NYSE:MRC opened at $12.60 on Friday. The company’s 50-day moving average price is $12.52 and its 200 day moving average price is $12.72. MRC Global has a fifty-two week low of $9.47 and a fifty-two week high of $14.91. The company has a market cap of $1.07 billion, a PE ratio of 14.65 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.

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

Institutional Trading of MRC Global

Several large investors have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of MRC Global by 308.2% during the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,951 shares in the last quarter. Innealta Capital LLC purchased a new position in MRC Global during the 2nd quarter valued at about $45,000. DekaBank Deutsche Girozentrale acquired a new position in shares of MRC Global in the 2nd quarter valued at about $56,000. Canada Pension Plan Investment Board purchased a new stake in shares of MRC Global in the second quarter worth approximately $56,000. Finally, nVerses Capital LLC acquired a new stake in shares of MRC Global during the second quarter worth approximately $70,000. 94.97% of the stock is owned by institutional investors and hedge funds.

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.