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

StockNews.com upgraded shares of MRC Global (NYSE:MRC) from a buy rating to a strong-buy rating in a research note published on Friday morning.

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

MRC Global Stock Down 0.7 %

NYSE:MRC traded down $0.08 during mid-day trading on Friday, hitting $12.18. The stock had a trading volume of 481,350 shares, compared to its average volume of 578,150. MRC Global has a twelve month low of $9.77 and a twelve month high of $14.91. The company has a market capitalization of $1.04 billion, a PE ratio of 13.10 and a beta of 1.97. 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 stock has a 50-day simple moving average of $12.51 and a two-hundred day simple moving average of $12.71.

MRC Global (NYSE:MRC) last released its quarterly earnings data 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 analyst estimates of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. On average, equities research analysts anticipate that MRC Global will post 0.85 EPS for the current year.

Institutional Investors Weigh In On MRC Global

A number of large investors have recently added to or reduced their stakes in MRC. Essex Investment Management Co. LLC boosted its position in shares of MRC Global by 0.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company’s stock worth $3,824,000 after acquiring an additional 1,063 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in MRC Global by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock worth $933,000 after purchasing an additional 1,149 shares in the last quarter. ProShare Advisors LLC raised its position in MRC Global by 8.5% in the first quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock valued at $190,000 after purchasing an additional 1,186 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of MRC Global by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock worth $414,000 after purchasing an additional 1,289 shares during the last quarter. Finally, CWM LLC increased its stake in shares of MRC Global by 308.2% in the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,951 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.