MRC Global (NYSE:MRC) Sets New 52-Week High Following Analyst Upgrade

MRC Global Inc. (NYSE:MRC)’s stock price hit a new 52-week high during trading on Monday after Susquehanna raised their price target on the stock from $13.00 to $15.00. Susquehanna currently has a positive rating on the stock. MRC Global traded as high as $12.89 and last traded at $12.81, with a volume of 42114 shares traded. The stock had previously closed at $12.56.

Separately, Stephens reissued an “overweight” rating and set a $17.00 price target on shares of MRC Global in a report on Wednesday, February 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $15.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in shares of MRC Global in the third quarter valued at about $33,000. Luminus Management LLC purchased a new position in shares of MRC Global during the third quarter valued at approximately $42,000. Coppell Advisory Solutions Corp. acquired a new stake in MRC Global in the 4th quarter worth about $45,000. Quarry LP lifted its holdings in shares of MRC Global by 542.4% during the 1st quarter. Quarry LP now owns 5,242 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 4,426 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new position in MRC Global during the third quarter worth approximately $61,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.48. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 12.08 and a beta of 1.99. The stock’s fifty day moving average is $11.80 and its two-hundred day moving average is $10.92.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. The firm had revenue of $768.00 million during the quarter, compared to the consensus estimate of $810.52 million. MRC Global had a return on equity of 26.92% and a net margin of 3.34%. MRC Global’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. Analysts forecast that MRC Global Inc. will post 0.97 earnings per share 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.