StockNews.com Upgrades MRC Global (NYSE:MRC) to “Strong-Buy”

MRC Global (NYSE:MRC) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Separately, Stifel Nicolaus upped their price target on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 15th.

MRC Global Price Performance

Shares of NYSE MRC opened at $12.18 on Friday. MRC Global has a twelve month low of $9.77 and a twelve month high of $14.91. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 13.10 and a beta of 1.97. The firm has a 50-day moving average of $12.51 and a two-hundred day moving average of $12.71.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, beating 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 company had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. During the same period in the prior year, the company earned $0.25 EPS. MRC Global’s revenue was down 4.5% on a year-over-year basis. As a group, analysts expect that MRC Global will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of MRC Global

Several institutional investors and hedge funds have recently bought and sold shares of MRC. CWM LLC raised its holdings in MRC Global by 308.2% during the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,951 shares during the period. Innealta Capital LLC acquired a new stake in MRC Global during the 2nd quarter worth about $45,000. DekaBank Deutsche Girozentrale acquired a new stake in MRC Global during the 2nd quarter worth about $56,000. Canada Pension Plan Investment Board acquired a new stake in MRC Global during the 2nd quarter worth about $56,000. Finally, nVerses Capital LLC acquired a new stake in MRC Global during the 2nd quarter worth about $70,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.