MRC Global Inc. (NYSE:MRC) Receives $15.67 Consensus Target Price from Analysts

Shares of MRC Global Inc. (NYSE:MRC) have received a consensus rating of “Buy” from the three ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have covered the stock in the last year is $15.67.

A number of analysts have recently issued reports on MRC shares. StockNews.com upgraded shares of MRC Global from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th. Susquehanna restated a “positive” rating and set a $16.00 price target on shares of MRC Global in a report on Wednesday, June 26th.

MRC Global Trading Down 0.3 %

MRC opened at $12.63 on Friday. The company’s 50 day simple moving average is $12.61 and its two-hundred day simple moving average is $11.86. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.69 and a beta of 2.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81. MRC Global has a 1-year low of $8.15 and a 1-year high of $14.02.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $806.00 million during the quarter, compared to the consensus estimate of $760.76 million. MRC Global had a net margin of 2.97% and a return on equity of 23.60%. The business’s revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. Analysts expect that MRC Global will post 1 EPS for the current fiscal year.

Insider Activity at MRC Global

In related news, insider Grant R. Bates sold 35,000 shares of MRC Global stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $13.57, for a total value of $474,950.00. Following the completion of the sale, the insider now owns 110,191 shares in the company, valued at approximately $1,495,291.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MRC Global news, insider Grant R. Bates sold 35,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $13.57, for a total value of $474,950.00. Following the completion of the transaction, the insider now owns 110,191 shares in the company, valued at $1,495,291.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Leonard M. Anthony sold 40,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total transaction of $551,200.00. Following the completion of the transaction, the director now owns 101,120 shares of the company’s stock, valued at approximately $1,393,433.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,698 shares of company stock worth $1,242,374. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On MRC Global

Several institutional investors have recently modified their holdings of MRC. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of MRC Global by 303.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,740 shares of the oil and gas company’s stock worth $1,176,000 after acquiring an additional 86,333 shares in the last quarter. Luminus Management LLC purchased a new stake in shares of MRC Global during the 3rd quarter worth $42,000. Quadrature Capital Ltd purchased a new stake in shares of MRC Global during the 3rd quarter worth $168,000. Kennedy Capital Management LLC lifted its position in shares of MRC Global by 1.0% during the 3rd quarter. Kennedy Capital Management LLC now owns 2,094,016 shares of the oil and gas company’s stock worth $21,464,000 after purchasing an additional 20,086 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of MRC Global by 24.9% during the 3rd quarter. American Century Companies Inc. now owns 1,989,178 shares of the oil and gas company’s stock worth $20,389,000 after purchasing an additional 397,145 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.