MRC Global (NYSE:MRC) Reaches New 12-Month High Following Analyst Upgrade

MRC Global Inc. (NYSE:MRC) shares reached a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $12.56.

Separately, Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of MRC Global in a research note on Wednesday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, MRC Global currently has a consensus rating of “Buy” and an average price target of $15.25.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of MRC Global by 6.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,193,387 shares of the oil and gas company’s stock worth $14,213,000 after acquiring an additional 70,482 shares in the last quarter. Raymond James & Associates boosted its holdings in MRC Global by 63.4% in the first quarter. Raymond James & Associates now owns 30,327 shares of the oil and gas company’s stock worth $361,000 after purchasing an additional 11,764 shares during the period. Bank of New York Mellon Corp boosted its holdings in MRC Global by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 337,546 shares of the oil and gas company’s stock worth $4,020,000 after purchasing an additional 1,473 shares during the period. Group One Trading L.P. increased its stake in MRC Global by 115.3% during the first quarter. Group One Trading L.P. now owns 22,144 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 167,059 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of MRC Global during the first quarter worth $190,000. 94.97% of the stock is currently owned by institutional investors.

MRC Global Stock Performance

The company has a current ratio of 1.48, a quick ratio of 0.76 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average price is $11.89 and its 200-day moving average price is $10.96. The company has a market capitalization of $1.07 billion, a P/E ratio of 12.19 and a beta of 1.99.

MRC Global (NYSE:MRC) last issued its 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 company 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 quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. As a group, equities analysts expect that MRC Global Inc. will post 0.97 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.