MRC Global (NYSE:MRC) Price Target Raised to $15.00

MRC Global (NYSE:MRC) had its target price increased by stock analysts at Stifel Nicolaus from $14.00 to $15.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 15.92% from the company’s previous close.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 10th. Susquehanna reissued a “positive” rating and issued a $16.00 target price on shares of MRC Global in a research note on Wednesday, June 26th.

MRC Global Stock Performance

Shares of NYSE:MRC traded up $0.29 during trading on Tuesday, hitting $12.94. 324,355 shares of the company traded hands, compared to its average volume of 577,711. MRC Global has a one year low of $9.47 and a one year high of $14.91. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.94 and a beta of 1.97. 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’s fifty day moving average is $12.51 and its 200-day moving average is $12.72.

MRC Global (NYSE:MRC) last released 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. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The business had revenue of $832.00 million during the quarter, compared to analyst estimates of $831.32 million. During the same period last year, the company posted $0.25 EPS. The company’s revenue was down 4.5% compared to the same quarter last year. As a group, equities analysts predict that MRC Global will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in shares of MRC Global by 7,541.8% in the second quarter. Victory Capital Management Inc. now owns 1,342,896 shares of the oil and gas company’s stock worth $17,337,000 after acquiring an additional 1,325,323 shares in the last quarter. American Century Companies Inc. boosted its position in shares of MRC Global by 167.3% during the second quarter. American Century Companies Inc. now owns 1,205,172 shares of the oil and gas company’s stock worth $15,559,000 after buying an additional 754,376 shares during the period. Pzena Investment Management LLC lifted its position 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 worth $92,521,000 after purchasing an additional 358,580 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in MRC Global by 456.3% during the second quarter. Acadian Asset Management LLC now owns 427,298 shares of the oil and gas company’s stock worth $5,513,000 after purchasing an additional 350,492 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in MRC Global in the 2nd quarter valued at $4,418,000. Institutional investors and hedge funds 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.