MRC Global (NYSE:MRC) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

MRC Global (NYSE:MRC) had its target price raised by Stifel Nicolaus from $14.00 to $15.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other brokerages also recently commented on MRC. Susquehanna lowered their price objective on MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a research note on Monday, April 14th. StockNews.com raised shares of MRC Global from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Loop Capital dropped their price objective on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th.

MRC Global Stock Down 0.6 %

Shares of NYSE:MRC opened at $12.27 on Thursday. The firm has a market cap of $1.06 billion, a PE ratio of 14.10 and a beta of 1.63. The company has a fifty day simple moving average of $11.27 and a 200 day simple moving average of $12.64. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. MRC Global has a 12-month low of $9.23 and a 12-month high of $15.41.

MRC Global (NYSE:MRC) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.08 by $0.06. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company had revenue of $712.00 million during the quarter, compared to analyst estimates of $710.00 million. During the same quarter last year, the firm earned $0.20 EPS. The business’s revenue was down 11.7% on a year-over-year basis. On average, equities research analysts anticipate that MRC Global will post 0.86 EPS for the current fiscal year.

Institutional Trading of MRC Global

A number of institutional investors have recently made changes to their positions in MRC. Huntington National Bank bought a new position in MRC Global during the 4th quarter valued at $34,000. Sterling Capital Management LLC grew its holdings in MRC Global by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 2,406 shares during the period. Meeder Asset Management Inc. bought a new stake in MRC Global in the fourth quarter worth about $56,000. Quantinno Capital Management LP acquired a new stake in MRC Global in the 4th quarter valued at about $129,000. Finally, Longboard Asset Management LP bought a new position in shares of MRC Global during the 4th quarter valued at about $134,000. 94.97% of the stock is owned by institutional investors and hedge funds.

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.