MRC Global Inc. (NYSE:MRC) Given Average Rating of “Buy” by Analysts

MRC Global Inc. (NYSE:MRC) has been assigned an average recommendation of “Buy” from the three brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $15.67.

Several research analysts have weighed in on MRC shares. StockNews.com upgraded MRC Global from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Susquehanna reiterated a “positive” rating and issued a $16.00 price objective on shares of MRC Global in a research report on Wednesday.

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

Hedge Funds Weigh In On MRC Global

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP acquired a new position in shares of MRC Global during the 3rd quarter worth $33,000. Luminus Management LLC acquired a new position in MRC Global during the third quarter worth about $42,000. New York State Teachers Retirement System purchased a new stake in shares of MRC Global in the first quarter valued at about $94,000. Mackenzie Financial Corp acquired a new stake in MRC Global during the 4th quarter valued at $120,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of MRC Global during the fourth quarter valued at $122,000. 94.97% of the stock is owned by institutional investors and hedge funds.

MRC Global Stock Up 1.3 %

MRC stock opened at $12.50 on Friday. MRC Global has a 12 month low of $8.15 and a 12 month high of $14.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 14.54 and a beta of 2.03. The company has a fifty day moving average price of $12.56 and a 200 day moving average price of $11.79.

MRC Global (NYSE:MRC) last announced its earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $806.00 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $0.32 earnings per share. Sell-side analysts expect that MRC Global will post 1 earnings per share for the current year.

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.