Stifel Nicolaus Increases MRC Global (NYSE:MRC) Price Target to $15.00

MRC Global (NYSE:MRC) had its target price increased by research analysts at Stifel Nicolaus from $14.00 to $15.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 21.02% from the company’s current price.

MRC has been the topic of a number of other reports. Susquehanna reiterated a “positive” rating and issued a $16.00 price target on shares of MRC Global in a report on Wednesday, June 26th. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th.

MRC Global Trading Down 2.6 %

MRC opened at $12.40 on Tuesday. The stock’s fifty day moving average is $12.50 and its two-hundred day moving average is $12.72. The company has a market capitalization of $1.05 billion, a P/E ratio of 14.41 and a beta of 1.97. MRC Global has a 52 week low of $9.47 and a 52 week 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.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, topping the consensus estimate 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%. MRC Global’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. Analysts forecast that MRC Global will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its position in shares of MRC Global by 308.2% in the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 1,951 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of MRC Global in the 2nd quarter worth $45,000. Canada Pension Plan Investment Board acquired a new stake in shares of MRC Global in the 2nd quarter worth $56,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MRC Global in the 2nd quarter worth $56,000. Finally, nVerses Capital LLC acquired a new stake in shares of MRC Global in the 2nd quarter worth $70,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

MRC Global Company Profile

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.