MRC Global Inc. (NYSE:MRC) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of MRC Global Inc. (NYSE:MRC) have been given a consensus recommendation of “Buy” by the three brokerages that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $15.67.

A number of research analysts have recently commented on MRC shares. StockNews.com raised MRC Global from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Susquehanna reissued a “positive” rating and set a $16.00 price objective on shares of MRC Global in a report on Wednesday, June 26th.

Insider Buying and Selling

In other MRC Global news, insider Grant R. Bates sold 4,698 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $13.76, for a total value of $64,644.48. Following the transaction, the insider now directly owns 145,191 shares in the company, valued at approximately $1,997,828.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MRC Global news, insider Grant R. Bates sold 4,698 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $13.76, for a total value of $64,644.48. Following the transaction, the insider now directly owns 145,191 shares in the company, valued at approximately $1,997,828.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Grant R. Bates sold 35,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $13.57, for a total value of $474,950.00. Following the completion of the transaction, the insider now owns 110,191 shares in the company, valued at $1,495,291.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,698 shares of company stock valued at $1,242,374. Corporate insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On MRC Global

Several institutional investors have recently modified their holdings of MRC. Engine Capital Management LP increased its position in shares of MRC Global by 30.0% during the 4th quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock valued at $42,574,000 after purchasing an additional 891,454 shares during the last quarter. Wellington Management Group LLP increased its position in shares of MRC Global by 22.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,010,991 shares of the oil and gas company’s stock valued at $30,863,000 after purchasing an additional 561,706 shares during the last quarter. Appian Way Asset Management LP bought a new position in shares of MRC Global during the 4th quarter valued at about $4,745,000. American Century Companies Inc. increased its position in shares of MRC Global by 24.9% during the 3rd quarter. American Century Companies Inc. now owns 1,989,178 shares of the oil and gas company’s stock valued at $20,389,000 after purchasing an additional 397,145 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in MRC Global by 5.1% during the 1st quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock worth $92,521,000 after acquiring an additional 358,580 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

MRC Global Stock Down 0.3 %

Shares of NYSE MRC opened at $12.63 on Friday. MRC Global has a one year low of $8.15 and a one year high of $14.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81. The business’s fifty day moving average price is $12.61 and its 200-day moving average price is $11.86. The stock has a market capitalization of $1.07 billion, a PE ratio of 14.69 and a beta of 2.00.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. MRC Global had a return on equity of 23.60% and a net margin of 2.97%. The firm had revenue of $806.00 million for the quarter, compared to analysts’ expectations of $760.76 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that MRC Global will post 1 EPS for the current year.

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.