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

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

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

MRC Global Stock Down 0.5 %

Shares of MRC Global stock opened at $12.68 on Wednesday. MRC Global has a one year low of $9.47 and a one year high of $14.91. The company has a market cap of $1.08 billion, a P/E ratio of 14.74 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.08. The firm has a fifty day moving average of $12.78 and a two-hundred day moving average of $12.71.

MRC Global (NYSE:MRC) last released its 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. The company had revenue of $832.00 million for 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 firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. On average, analysts forecast that MRC Global will post 0.91 earnings per share for the current year.

Institutional Trading of MRC Global

A number of large investors have recently made changes to their positions in MRC. Acadian Asset Management LLC purchased a new position in shares of MRC Global during the first quarter valued at approximately $963,000. Beryl Capital Management LLC purchased a new stake in shares of MRC Global in the fourth quarter valued at $1,881,000. Appian Way Asset Management LP acquired a new position in MRC Global in the fourth quarter valued at $4,745,000. Engine Capital Management LP lifted its position in MRC Global by 30.0% during 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 buying an additional 891,454 shares during the period. Finally, Quest Partners LLC boosted its stake in MRC Global by 162.9% in the 2nd quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock worth $981,000 after buying an additional 47,075 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.