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

StockNews.com lowered shares of MRC Global (NYSE:MRC - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

A number of other brokerages have also issued reports on MRC. Susquehanna reaffirmed a "positive" rating and issued a $16.00 target price on shares of MRC Global in a research report on Wednesday, June 26th. Stifel Nicolaus increased their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday.

MRC Global Trading Down 0.5 %

MRC traded down $0.06 on Friday, reaching $12.60. 2,174,770 shares of the company's stock were exchanged, compared to its average volume of 586,823. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 14.65 and a beta of 1.97. 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 twelve month low of $9.47 and a twelve month high of $14.91. The company's 50 day moving average is $12.52 and its 200-day moving average is $12.72.

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

Institutional Investors Weigh In On MRC Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC grew its position in shares of MRC Global by 0.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 300,195 shares of the oil and gas company's stock valued at $3,824,000 after buying an additional 1,063 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in MRC Global during the 2nd quarter valued at approximately $312,000. Quarry LP grew its stake in MRC Global by 162.8% during the 2nd quarter. Quarry LP now owns 7,333 shares of the oil and gas company's stock worth $95,000 after buying an additional 4,543 shares during the last quarter. Algert Global LLC grew its stake in MRC Global by 71.1% during the 2nd quarter. Algert Global LLC now owns 302,221 shares of the oil and gas company's stock worth $3,902,000 after buying an additional 125,574 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in MRC Global by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company's stock worth $414,000 after buying an additional 1,289 shares during the period. 94.97% of the stock is 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.