MRC Global (NYSE:MRC) Rating Increased to Strong-Buy at StockNews.com

MRC Global (NYSE:MRC) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Separately, Susquehanna restated a “positive” rating and set a $16.00 target price on shares of MRC Global in a report on Wednesday, June 26th.

MRC Global Stock Performance

Shares of MRC stock opened at $12.48 on Tuesday. The firm has a market cap of $1.06 billion, a PE ratio of 14.51 and a beta of 1.97. MRC Global has a 12 month low of $9.47 and a 12 month high of $14.91. The company’s fifty day simple moving average is $12.92 and its 200-day simple moving average is $12.70. 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 posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. Equities research analysts expect that MRC Global will post 0.91 EPS for the current fiscal year.

Institutional Trading of MRC Global

Hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC raised its stake in MRC Global by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock valued at $933,000 after acquiring an additional 1,149 shares during the period. ProShare Advisors LLC raised its position in shares of MRC Global by 8.5% in the first quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock valued at $190,000 after purchasing an additional 1,186 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of 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. CWM LLC boosted its holdings in shares of MRC Global by 308.2% during the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,951 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MRC Global by 9.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,532 shares of the oil and gas company’s stock valued at $317,000 after buying an additional 2,176 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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.