MRC Global (NYSE:MRC) Cut to "Buy" at StockNews.com

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 Thursday morning.

Separately, Susquehanna reissued a positive rating and issued a $16.00 price objective on shares of MRC Global in a research note on Wednesday, June 26th.

MRC Global Price Performance

MRC Global stock remained flat at $12.70 during trading hours on Thursday. The company's stock had a trading volume of 232,607 shares, compared to its average volume of 582,792. MRC Global has a 1 year low of $9.47 and a 1 year high of $14.91. 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 company has a market capitalization of $1.08 billion, a PE ratio of 14.62 and a beta of 1.97. The business has a 50 day moving average of $12.55 and a 200 day moving average of $12.72.

MRC Global (NYSE:MRC - Get Free Report) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.07. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The business had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. During the same quarter last year, the firm earned $0.25 earnings per share. MRC Global's quarterly revenue was down 4.5% on a year-over-year basis. Research analysts anticipate that MRC Global will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Beryl Capital Management LLC purchased a new stake in MRC Global during the fourth quarter valued at about $1,881,000. Ophir Asset Management Pty Ltd bought a new stake in MRC Global in the 4th quarter worth approximately $304,000. BNP Paribas Financial Markets boosted its stake in MRC Global by 4.0% in the first quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company's stock worth $986,000 after buying an additional 2,994 shares in the last quarter. Pzena Investment Management LLC grew its position in MRC Global by 5.1% during the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company's stock valued at $92,521,000 after acquiring an additional 358,580 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its stake in shares of MRC Global by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 263,573 shares of the oil and gas company's stock worth $3,313,000 after acquiring an additional 4,047 shares in the last quarter. Hedge funds and other 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.