MRC Global (NYSE:MRC) Reaches New 1-Year High - Still a Buy?

Shares of MRC Global Inc. (NYSE:MRC - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $15.41 and last traded at $15.07, with a volume of 677684 shares changing hands. The stock had previously closed at $15.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. StockNews.com cut shares of MRC Global from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 9th. Finally, Susquehanna lifted their price target on shares of MRC Global from $16.00 to $17.00 and gave the stock a "positive" rating in a research note on Thursday, November 7th.

MRC Global Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.26 billion, a P/E ratio of 17.00 and a beta of 1.97. The firm has a 50 day moving average price of $13.58 and a 200 day moving average price of $13.15.

MRC Global (NYSE:MRC - Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The company had revenue of $797.00 million for the quarter, compared to analysts' expectations of $794.17 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm's revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. On average, analysts forecast that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

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

Institutional Investors Weigh In On MRC Global

A number of institutional investors have recently bought and sold shares of MRC. Barclays PLC boosted its position in shares of MRC Global by 197.7% during the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company's stock worth $1,927,000 after acquiring an additional 100,384 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MRC Global by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company's stock valued at $47,629,000 after purchasing an additional 97,445 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of MRC Global by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 156,332 shares of the oil and gas company's stock valued at $1,992,000 after purchasing an additional 17,609 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of MRC Global by 20.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,575 shares of the oil and gas company's stock worth $198,000 after purchasing an additional 2,639 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of MRC Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company's stock worth $24,934,000 after buying an additional 32,760 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

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.