MRC Global (NYSE:MRC) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of MRC Global (NYSE:MRC) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

A number of other equities analysts also recently issued reports on MRC. Stifel Nicolaus raised their price target on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Susquehanna lifted their target price on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th.

MRC Global Stock Up 2.3 %

MRC stock opened at $13.96 on Friday. MRC Global has a twelve month low of $9.77 and a twelve month high of $14.91. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.19 billion, a PE ratio of 16.05 and a beta of 1.97. The business has a 50 day moving average of $12.55 and a 200 day moving average of $12.80.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $797.00 million during the quarter, compared to analyst estimates of $794.17 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. On average, research analysts forecast that MRC Global will post 0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of MRC Global by 2.0% during the first quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock valued at $115,391,000 after buying an additional 175,865 shares during the period. Pzena Investment Management LLC boosted its position in shares of MRC Global by 0.4% during the third quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock valued at $73,520,000 after buying an additional 20,407 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of MRC Global by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock valued at $47,629,000 after buying an additional 97,445 shares during the period. Victory Capital Management Inc. boosted its position in shares of MRC Global by 2.0% during the third quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock valued at $17,448,000 after buying an additional 26,619 shares during the period. Finally, Renaissance Technologies LLC boosted its position 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 period. Hedge funds and other 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.