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

StockNews.com downgraded shares of MRC Global (NYSE:MRC - Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday.

Several other brokerages have also weighed in on MRC. Susquehanna raised their price objective on shares of MRC Global from $16.00 to $17.00 and gave the stock a "positive" rating in a report on Thursday. Stifel Nicolaus lifted their target price on 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 1.4 %

Shares of NYSE MRC traded down $0.19 during midday trading on Friday, reaching $13.64. 470,470 shares of the company's stock were exchanged, compared to its average volume of 575,428. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.08. MRC Global has a 52-week low of $9.77 and a 52-week high of $14.91. The business's fifty day moving average price is $12.53 and its two-hundred day moving average price is $12.77. The stock has a market capitalization of $1.16 billion, a PE ratio of 15.68 and a beta of 1.97.

MRC Global (NYSE:MRC - Get Free Report) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. The company had revenue of $797.00 million for the quarter, compared to analyst estimates of $794.17 million. MRC Global had a return on equity of 20.12% and a net margin of 3.09%. MRC Global's quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. Analysts forecast that MRC Global will post 0.85 EPS for the current year.

Institutional Trading of MRC Global

Several large investors have recently added to or reduced their stakes in MRC. CWM LLC grew 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 worth $33,000 after purchasing an additional 1,951 shares in the last quarter. Innealta Capital LLC bought a new position in MRC Global in the 2nd quarter valued at about $45,000. Canada Pension Plan Investment Board acquired a new position in MRC Global during the 2nd quarter valued at about $56,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MRC Global during the 2nd quarter worth about $56,000. Finally, nVerses Capital LLC acquired a new stake in shares of MRC Global in the 2nd quarter worth approximately $70,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Company Profile

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.