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

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

Separately, Stifel Nicolaus raised their target price on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th.

MRC Global Stock Down 0.7 %

MRC stock traded down $0.08 during trading on Friday, reaching $12.18. The stock had a trading volume of 481,350 shares, compared to its average volume of 578,150. MRC Global has a one year low of $9.77 and a one year high of $14.91. The company’s 50 day moving average is $12.51 and its two-hundred day moving average is $12.71. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 13.10 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 posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, topping 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 business had revenue of $832.00 million for the quarter, compared to analysts’ expectations of $831.32 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was down 4.5% on a year-over-year basis. Equities research analysts forecast that MRC Global will post 0.85 EPS for the current year.

Institutional Investors Weigh In On MRC Global

Several hedge funds have recently added to or reduced their stakes in MRC. Acadian Asset Management LLC purchased a new stake in shares of MRC Global in the 1st quarter valued at $963,000. Rhumbline Advisers boosted its position in MRC Global by 62.0% during the second quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock valued at $3,189,000 after buying an additional 94,566 shares during the period. Quest Partners LLC grew its stake in shares of MRC Global by 162.9% during the second quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 47,075 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of MRC Global by 18.9% during the second quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock valued at $16,636,000 after buying an additional 204,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of MRC Global by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock worth $47,629,000 after buying an additional 97,445 shares during the period. Institutional investors own 94.97% of the company’s stock.

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.