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 research note issued on Friday.

Other research analysts have also issued research reports about the stock. Susquehanna restated a “positive” rating and set a $16.00 target price on shares of MRC Global in a research report on Wednesday, June 26th. Stifel Nicolaus boosted their price target on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday.

MRC Global Stock Performance

MRC opened at $12.66 on Friday. 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 company has a market capitalization of $1.08 billion, a PE ratio of 14.72 and a beta of 1.97. The business has a fifty day simple moving average of $12.51 and a 200 day simple moving average of $12.72. MRC Global has a 1 year low of $9.47 and a 1 year high of $14.91.

MRC Global (NYSE:MRC) last posted its earnings results 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 return on equity of 22.35% and a net margin of 3.19%. The company had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. During the same quarter last year, the firm earned $0.25 earnings per share. The company’s revenue was down 4.5% on a year-over-year basis. Research analysts expect that MRC Global will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of MRC Global by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock valued at $115,391,000 after acquiring an additional 175,865 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of MRC Global by 5.1% in the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock valued at $92,521,000 after buying an additional 358,580 shares during the period. Dimensional Fund Advisors LP grew its holdings in MRC Global by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock worth $47,629,000 after acquiring an additional 97,445 shares during the last quarter. Victory Capital Management Inc. increased its position in MRC Global by 7,541.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,342,896 shares of the oil and gas company’s stock valued at $17,337,000 after acquiring an additional 1,325,323 shares during the period. Finally, Renaissance Technologies LLC increased its position in MRC Global by 18.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock valued at $16,636,000 after acquiring an additional 204,600 shares during the period. 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.