MRC Global (NYSE:MRC) Stock Rating Upgraded by StockNews.com

MRC Global (NYSE:MRC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

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

MRC Global Price Performance

MRC Global stock traded up $0.02 during mid-day trading on Tuesday, hitting $12.56. 304,540 shares of the company were exchanged, compared to its average volume of 595,585. MRC Global has a 1-year low of $9.47 and a 1-year high of $14.91. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $12.96 and a 200 day moving average of $12.70. The company has a market capitalization of $1.07 billion, a PE ratio of 14.60 and a beta of 1.97.

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

Institutional Investors Weigh In On MRC Global

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC grew its holdings in MRC Global by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock worth $933,000 after acquiring an additional 1,149 shares during the period. ProShare Advisors LLC grew its stake in shares of MRC Global by 8.5% during the first quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock worth $190,000 after purchasing an additional 1,186 shares during the period. The Manufacturers Life Insurance Company increased its holdings in MRC Global by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock valued at $414,000 after purchasing an additional 1,289 shares during the last quarter. CWM LLC lifted its stake in MRC Global by 308.2% in the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,951 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MRC Global by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,532 shares of the oil and gas company’s stock worth $317,000 after buying an additional 2,176 shares during the last quarter. 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.