Mercer International (NASDAQ:MERC) Rating Increased to Hold at StockNews.com

Mercer International (NASDAQ:MERC) (TSE:MRI.U) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

A number of other research firms have also commented on MERC. CIBC lowered their target price on shares of Mercer International from $10.00 to $8.50 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Royal Bank of Canada lowered their target price on shares of Mercer International from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Monday, August 12th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.38.

Mercer International Stock Performance

MERC stock opened at $6.70 on Friday. The company has a debt-to-equity ratio of 3.22, a current ratio of 3.46 and a quick ratio of 2.17. The company has a 50 day moving average price of $6.45 and a 200 day moving average price of $8.12. Mercer International has a fifty-two week low of $5.33 and a fifty-two week high of $11.20. The stock has a market capitalization of $447.90 million, a PE ratio of -1.95 and a beta of 1.34.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.08). Mercer International had a negative return on equity of 17.93% and a negative net margin of 9.90%. The company had revenue of $499.40 million during the quarter, compared to the consensus estimate of $482.35 million. During the same quarter last year, the firm earned ($1.48) EPS. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts forecast that Mercer International will post -1.15 EPS for the current year.

Insider Activity

In related news, VP Wolfgang Beck bought 18,500 shares of Mercer International stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $6.02 per share, with a total value of $111,370.00. Following the purchase, the vice president now owns 26,263 shares in the company, valued at approximately $158,103.26. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Estrada Juan Carlos Bueno purchased 7,800 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $6.60 per share, with a total value of $51,480.00. Following the acquisition, the chief executive officer now directly owns 67,615 shares in the company, valued at $446,259. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Wolfgang Beck purchased 18,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $6.02 per share, for a total transaction of $111,370.00. Following the completion of the acquisition, the vice president now owns 26,263 shares in the company, valued at approximately $158,103.26. This trade represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 41,300 shares of company stock valued at $252,650 in the last quarter. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MERC. Everence Capital Management Inc. acquired a new stake in shares of Mercer International during the 1st quarter worth approximately $261,000. Russell Investments Group Ltd. bought a new position in Mercer International during the first quarter worth $193,000. Finally, SG Americas Securities LLC raised its stake in Mercer International by 26.5% during the first quarter. SG Americas Securities LLC now owns 51,201 shares of the basic materials company’s stock worth $509,000 after buying an additional 10,713 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.