MRC Global (NYSE:MRC) Downgraded by StockNews.com

MRC Global (NYSE:MRC) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

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

MRC Global Trading Down 0.5 %

NYSE MRC opened at $12.68 on Wednesday. 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 stock has a market capitalization of $1.08 billion, a P/E ratio of 14.74 and a beta of 1.97. The firm’s 50-day moving average is $12.78 and its two-hundred day moving average is $12.71. MRC Global has a 12 month low of $9.47 and a 12 month high of $14.91.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The firm had revenue of $832.00 million during the quarter, compared to analysts’ expectations of $831.32 million. During the same quarter last year, the company posted $0.25 EPS. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that MRC Global will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On MRC Global

Several hedge funds have recently added to or reduced their stakes in the stock. CastleKnight Management LP grew its holdings in shares of MRC Global by 8.9% during the fourth quarter. CastleKnight Management LP now owns 170,600 shares of the oil and gas company’s stock worth $1,878,000 after purchasing an additional 14,000 shares during the last quarter. Engine Capital Management LP grew its stake in MRC Global by 30.0% during the 4th quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock worth $42,574,000 after buying an additional 891,454 shares during the last quarter. Appian Way Asset Management LP acquired a new position in MRC Global during the fourth quarter worth approximately $4,745,000. Beryl Capital Management LLC purchased a new stake in MRC Global in the fourth quarter valued at approximately $1,881,000. Finally, Ophir Asset Management Pty Ltd purchased a new stake in MRC Global in the fourth quarter valued at approximately $304,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

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.