MRC Global Inc. (NYSE:MRC) Receives $15.67 Average Price Target from Brokerages

MRC Global Inc. (NYSE:MRC) has received an average recommendation of “Buy” from the three brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued a report on the stock in the last year is $15.67.

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

MRC Global Stock Up 3.3 %

MRC stock opened at $12.91 on Friday. The stock has a market capitalization of $1.10 billion, a P/E ratio of 15.01 and a beta of 2.03. MRC Global has a fifty-two week low of $8.15 and a fifty-two week high of $14.02. The business has a 50-day moving average of $12.58 and a 200-day moving average of $11.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81.

MRC Global (NYSE:MRC) last announced 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. The firm had revenue of $806.00 million during the quarter, compared to analysts’ expectations of $760.76 million. MRC Global had a net margin of 2.97% and a return on equity of 23.60%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. On average, sell-side analysts anticipate that MRC Global will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MRC Global news, insider Grant R. Bates sold 4,698 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.76, for a total value of $64,644.48. Following the completion of the sale, the insider now directly owns 145,191 shares in the company, valued at $1,997,828.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John P. Mccarthy sold 11,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.78, for a total transaction of $151,580.00. Following the sale, the insider now owns 85,674 shares of the company’s stock, valued at $1,180,587.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Grant R. Bates sold 4,698 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $13.76, for a total transaction of $64,644.48. Following the transaction, the insider now directly owns 145,191 shares of the company’s stock, valued at approximately $1,997,828.16. The disclosure for this sale can be found here. Insiders sold 90,698 shares of company stock valued at $1,242,374 over the last quarter. 20.90% of the stock is owned by company insiders.

Institutional Trading of MRC Global

Several institutional investors have recently bought and sold shares of MRC. SummerHaven Investment Management LLC lifted its holdings in shares of MRC Global by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 70,162 shares of the oil and gas company’s stock valued at $772,000 after purchasing an additional 1,025 shares in the last quarter. ProShare Advisors LLC lifted its stake in MRC Global by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock valued at $190,000 after acquiring an additional 1,186 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of MRC Global by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 66,187 shares of the oil and gas company’s stock valued at $832,000 after acquiring an additional 2,735 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of MRC Global by 4.0% in the first quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company’s stock worth $986,000 after acquiring an additional 2,994 shares during the period. Finally, Gladius Capital Management LP purchased a new position in shares of MRC Global during the third quarter valued at approximately $33,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.