StockNews.com Downgrades MRC Global (NYSE:MRC) to Buy

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

Other equities analysts also recently issued research reports about the company. Susquehanna reaffirmed a “positive” rating and issued a $16.00 price objective on shares of MRC Global in a research report on Wednesday, June 26th. Stifel Nicolaus upped their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th.

MRC Global Price Performance

MRC Global stock opened at $12.60 on Friday. MRC Global has a 12-month low of $9.47 and a 12-month high of $14.91. 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 has a 50-day moving average price of $12.52 and a 200-day moving average price of $12.73. The firm has a market capitalization of $1.07 billion, a PE ratio of 14.65 and a beta of 1.97.

MRC Global (NYSE:MRC) last announced its quarterly earnings data 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 business had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, equities research analysts forecast that MRC Global will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MRC. Vanguard Group Inc. grew its position in shares of MRC Global by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock worth $115,391,000 after buying an additional 175,865 shares in the last quarter. Pzena Investment Management LLC lifted its stake in MRC Global by 5.1% in the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock worth $92,521,000 after acquiring an additional 358,580 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 acquiring an additional 97,445 shares in the last quarter. Victory Capital Management Inc. increased its position in MRC Global by 7,541.8% during 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 purchasing an additional 1,325,323 shares during the period. Finally, Renaissance Technologies LLC increased its position in MRC Global by 18.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock valued at $16,636,000 after purchasing an additional 204,600 shares during the period. 94.97% of the stock is currently 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.