MRC Global (NYSE:MRC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of MRC Global (NYSE:MRC) from a buy rating to a strong-buy rating in a research note published on Friday.

Separately, Stifel Nicolaus raised their price target on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th.

MRC Global Stock Performance

Shares of MRC opened at $12.20 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The firm’s fifty day simple moving average is $12.51 and its two-hundred day simple moving average is $12.73. MRC Global has a 12 month low of $9.77 and a 12 month high of $14.91. The stock has a market capitalization of $1.04 billion, a P/E ratio of 13.12 and a beta of 1.97.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The company had revenue of $832.00 million for the quarter, compared to analyst estimates of $831.32 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. As a group, analysts predict that MRC Global will post 0.85 EPS for the current year.

Institutional Investors Weigh In On MRC Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in shares of MRC Global during the 1st quarter worth $963,000. Rhumbline Advisers raised its position in shares of MRC Global by 62.0% in the second quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock worth $3,189,000 after acquiring an additional 94,566 shares during the period. Quest Partners LLC boosted its position in MRC Global by 162.9% during the second quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock worth $981,000 after purchasing an additional 47,075 shares in the last quarter. Renaissance Technologies LLC raised its position in MRC Global by 18.9% during the second quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock worth $16,636,000 after acquiring an additional 204,600 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in MRC Global by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock worth $47,629,000 after buying an additional 97,445 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

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.