StockNews.com Downgrades MRC Global (NYSE:MRC) to Buy

StockNews.com cut shares of MRC Global (NYSE:MRC) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

Separately, Susquehanna reiterated a positive rating and issued a $16.00 price target on shares of MRC Global in a report on Wednesday, June 26th.

MRC Global Stock Performance

NYSE:MRC opened at $12.83 on Thursday. The firm has a 50-day moving average of $12.53 and a two-hundred day moving average of $12.72. 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 stock has a market cap of $1.09 billion, a P/E ratio of 13.66 and a beta of 1.97. MRC Global has a 1-year low of $9.47 and a 1-year high of $14.91.

MRC Global (NYSE:MRC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $831.32 million. During the same period in the prior year, the business posted $0.25 EPS. The business’s revenue was down 4.5% on a year-over-year basis. On average, research analysts expect that MRC Global will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MRC Global

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in MRC Global during the 1st quarter valued at $963,000. Beryl Capital Management LLC bought a new position in MRC Global during the fourth quarter valued at about $1,881,000. Rhumbline Advisers grew its holdings in MRC Global by 62.0% during the second quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock worth $3,189,000 after acquiring an additional 94,566 shares during the period. Quest Partners LLC raised its position in MRC Global by 162.9% in the second quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock worth $981,000 after acquiring an additional 47,075 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings 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 last quarter. 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.