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

MRC Global (NYSE:MRC) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

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

MRC Global Stock Performance

NYSE:MRC opened at $12.91 on Thursday. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. MRC Global has a fifty-two week low of $9.47 and a fifty-two week high of $14.91. The stock has a market cap of $1.10 billion, a PE ratio of 13.88 and a beta of 1.97. The firm’s fifty day simple moving average is $12.52 and its 200-day simple moving average is $12.72.

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 for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The business had revenue of $832.00 million for the quarter, compared to analysts’ expectations of $831.32 million. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. Analysts expect that MRC Global will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC lifted its holdings in MRC Global by 0.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock valued at $3,824,000 after purchasing an additional 1,063 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of MRC Global during the 2nd quarter worth about $312,000. Quarry LP lifted its holdings in shares of MRC Global by 162.8% during the 2nd quarter. Quarry LP now owns 7,333 shares of the oil and gas company’s stock worth $95,000 after acquiring an additional 4,543 shares during the period. Algert Global LLC lifted its holdings in shares of MRC Global by 71.1% during the 2nd quarter. Algert Global LLC now owns 302,221 shares of the oil and gas company’s stock worth $3,902,000 after acquiring an additional 125,574 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of MRC Global by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock worth $414,000 after acquiring an additional 1,289 shares during the period. 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.