MRC Global (NYSE:MRC) Rating Lowered to Buy at StockNews.com

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

Separately, Susquehanna reaffirmed a “positive” rating and issued a $16.00 price objective on shares of MRC Global in a research note on Wednesday, June 26th.

MRC Global Trading Up 0.6 %

MRC Global stock opened at $12.57 on Wednesday. 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 firm’s 50 day moving average price is $12.74 and its 200-day moving average price is $12.71. MRC Global has a 1 year low of $9.47 and a 1 year high of $14.91. The stock has a market cap of $1.07 billion, a P/E ratio of 14.51 and a beta of 1.97.

MRC Global (NYSE:MRC) last announced its quarterly earnings results 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 business had revenue of $832.00 million for the quarter, compared to analysts’ expectations of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. On average, equities analysts predict that MRC Global will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of MRC Global

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

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.