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

MRC Global (NYSE:MRC - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Monday.

Several other research firms also recently commented on MRC. Susquehanna cut their target price on shares of MRC Global from $17.00 to $15.00 and set a "positive" rating on the stock in a research report on Monday. Stifel Nicolaus dropped their price target on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Monday.

MRC Global Price Performance

MRC Global stock traded down $0.35 during midday trading on Monday, reaching $11.95. The company's stock had a trading volume of 2,233,179 shares, compared to its average volume of 580,220. The business has a 50-day moving average price of $13.08 and a 200-day moving average price of $12.98. The stock has a market cap of $1.02 billion, a PE ratio of 13.73 and a beta of 1.96. MRC Global has a 52 week low of $9.42 and a 52 week high of $15.41. 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 (NYSE:MRC - Get Free Report) last issued its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates of $0.08. The business had revenue of $736.80 million for the quarter, compared to analyst estimates of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. MRC Global's quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. On average, sell-side analysts predict that MRC Global will post 0.86 EPS for the current year.

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MRC Global announced that its board has authorized a share repurchase plan on Friday, January 3rd that permits the company to buyback $125.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 11% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank acquired a new stake in shares of MRC Global during the fourth quarter worth $34,000. Sterling Capital Management LLC grew its holdings in MRC Global by 821.2% during the 4th 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 position in shares of MRC Global in the 4th quarter worth about $56,000. Quantinno Capital Management LP acquired a new position in shares of MRC Global in the 4th quarter valued at about $129,000. Finally, Longboard Asset Management LP acquired a new position in shares of MRC Global in the 4th quarter valued at about $134,000. 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.