MRC Global (NYSE:MRC) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of MRC Global (NYSE:MRC) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

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

MRC Global Stock Up 0.1 %

Shares of NYSE MRC opened at $12.49 on Tuesday. The company has a market capitalization of $1.06 billion, a P/E ratio of 14.52 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. The company has a 50 day simple moving average of $12.88 and a 200-day simple moving average of $12.70. MRC Global has a 1 year low of $9.47 and a 1 year high of $14.91.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $832.00 million for the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, equities research analysts predict that MRC Global will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On MRC Global

Several institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its position in MRC Global by 308.2% in the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 1,951 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of MRC Global in the second quarter valued at approximately $45,000. DekaBank Deutsche Girozentrale acquired a new position in shares of MRC Global in the second quarter valued at approximately $56,000. Canada Pension Plan Investment Board purchased a new stake in MRC Global during the 2nd quarter worth approximately $56,000. Finally, nVerses Capital LLC purchased a new stake in MRC Global during the 2nd quarter worth approximately $70,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.