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 issued to investors on Friday.

Separately, Stifel Nicolaus lifted their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th.

MRC Global Stock Down 0.7 %

Shares of MRC Global stock opened at $12.18 on Friday. The firm’s 50 day moving average price is $12.51 and its 200-day moving average price is $12.72. MRC Global has a 52-week low of $9.77 and a 52-week high of $14.91. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.04 billion, a P/E ratio of 13.10 and a beta of 1.97.

MRC Global (NYSE:MRC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The firm had revenue of $832.00 million during the quarter, compared to analysts’ expectations of $831.32 million. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. On average, sell-side analysts predict that MRC Global will post 0.85 EPS for the current fiscal year.

Institutional Trading of MRC Global

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC lifted its holdings in MRC Global by 0.4% in the third quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock valued at $3,824,000 after acquiring an additional 1,063 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of MRC Global by 1.6% during 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 purchasing an additional 1,149 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of MRC Global by 8.5% in the 1st 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 boosted its holdings in MRC Global by 4.2% during the second 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 in the last quarter. Finally, CWM LLC grew its position in MRC Global by 308.2% during the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,951 shares during the period. 94.97% of the stock is owned by institutional investors and hedge funds.

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.