MRC Global (NYSE:MRC) Lifted to “Strong-Buy” at StockNews.com

MRC Global (NYSE:MRC) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Separately, Susquehanna reaffirmed a “positive” rating and issued a $16.00 price target on shares of MRC Global in a research note on Wednesday, June 26th.

MRC Global Trading Up 0.2 %

Shares of MRC traded up $0.02 during trading hours on Tuesday, reaching $12.56. The stock had a trading volume of 304,540 shares, compared to its average volume of 595,585. The company has a market cap of $1.07 billion, a P/E ratio of 14.60 and a beta of 1.97. MRC Global has a 52 week low of $9.47 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 firm has a 50-day moving average of $12.96 and a 200 day moving average of $12.70.

MRC Global (NYSE:MRC) last announced its quarterly earnings results 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. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The company had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, sell-side analysts expect that MRC Global will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in MRC Global by 7,541.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,342,896 shares of the oil and gas company’s stock valued at $17,337,000 after acquiring an additional 1,325,323 shares in the last quarter. Engine Capital Management LP lifted its position in shares of MRC Global by 30.0% in the fourth quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock worth $42,574,000 after purchasing an additional 891,454 shares in the last quarter. American Century Companies Inc. boosted its holdings in MRC Global by 167.3% during the second quarter. American Century Companies Inc. now owns 1,205,172 shares of the oil and gas company’s stock worth $15,559,000 after purchasing an additional 754,376 shares during the last quarter. Appian Way Asset Management LP bought a new position in MRC Global in the fourth quarter valued at $4,745,000. Finally, Pzena Investment Management LLC increased its stake in MRC Global by 5.1% in the 1st quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock valued at $92,521,000 after buying an additional 358,580 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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.