MRC Global (NYSE:MRC) Price Target Raised to $17.00

by · The Cerbat Gem

MRC Global (NYSE:MRC – Free Report) had its target price hoisted by Stifel Nicolaus from $15.00 to $17.00 in a report issued on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the oil and gas company’s stock.

MRC has been the subject of several other reports. Susquehanna decreased their price objective on MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Wall Street Zen upgraded shares of MRC Global from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Loop Capital dropped their price objective on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th.

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MRC Global Stock Performance

MRC stock opened at $14.91 on Friday. The company has a 50 day moving average price of $12.49 and a 200 day moving average price of $12.49. MRC Global has a fifty-two week low of $9.23 and a fifty-two week high of $15.59. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a market capitalization of $1.28 billion, a PE ratio of -135.58 and a beta of 1.61.

MRC Global (NYSE:MRC – Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The business had revenue of $712.00 million during the quarter, compared to the consensus estimate of $710.00 million. MRC Global had a net margin of 0.47% and a return on equity of 12.82%. MRC Global’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Analysts forecast that MRC Global will post 0.86 EPS for the current year.

Institutional Investors Weigh In On MRC Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank acquired a new position in MRC Global during the 4th quarter worth approximately $34,000. Sterling Capital Management LLC boosted its holdings in MRC Global by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 2,406 shares during the last quarter. Summit Securities Group LLC acquired a new position in MRC Global during the first quarter worth $44,000. Meeder Asset Management Inc. bought a new position in MRC Global in the fourth quarter valued at $56,000. Finally, Quantinno Capital Management LP acquired a new stake in MRC Global in the 4th quarter valued at $129,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Company Profile

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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.

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