MRC Global (NYSE:MRC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of MRC Global (NYSE:MRC) from a hold rating to a buy rating in a research note released on Wednesday morning.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price objective on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, March 17th. Susquehanna dropped their price target on shares of MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Finally, Loop Capital reduced their price objective on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th.

MRC Global Stock Performance

NYSE:MRC opened at $11.50 on Wednesday. MRC Global has a fifty-two week low of $9.23 and a fifty-two week high of $15.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The company has a 50 day moving average price of $11.24 and a 200 day moving average price of $12.64. The stock has a market capitalization of $991.35 million, a P/E ratio of 13.22 and a beta of 1.63.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business had revenue of $712.00 million during the quarter, compared to analysts’ expectations of $710.00 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was down 11.7% on a year-over-year basis. Equities research analysts forecast that MRC Global will post 0.86 EPS for the current year.

Hedge Funds Weigh In On MRC Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. Huntington National Bank acquired a new position in shares of MRC Global during the 4th quarter worth about $34,000. Sterling Capital Management LLC boosted its holdings in MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 2,406 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in MRC Global in the fourth quarter valued at approximately $56,000. Quantinno Capital Management LP acquired a new stake in MRC Global during the fourth quarter worth approximately $129,000. Finally, Longboard Asset Management LP purchased a new stake in shares of MRC Global during the 4th quarter worth approximately $134,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

About MRC Global

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.