StockNews.com Upgrades MRC Global (NYSE:MRC) to "Strong-Buy"

MRC Global (NYSE:MRC - Get Free Report) was upgraded by research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a note issued to investors on Friday.

Separately, Stifel Nicolaus increased 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 Trading Down 0.7 %

NYSE:MRC traded down $0.08 during trading hours on Friday, hitting $12.18. 481,343 shares of the stock were exchanged, compared to its average volume of 578,150. The company has a market capitalization of $1.04 billion, a P/E ratio of 13.10 and a beta of 1.97. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The company's 50 day moving average is $12.51 and its two-hundred day moving average is $12.71. MRC Global has a twelve month low of $9.77 and a twelve month high of $14.91.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $832.00 million for the quarter, compared to analysts' expectations of $831.32 million. During the same quarter last year, the business earned $0.25 earnings per share. The firm's quarterly revenue was down 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that MRC Global will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MRC Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in MRC Global in the 1st quarter valued at approximately $963,000. Rhumbline Advisers increased its position in MRC Global by 62.0% during the 2nd quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company's stock valued at $3,189,000 after purchasing an additional 94,566 shares during the period. Quest Partners LLC raised its stake in MRC Global by 162.9% during the second quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company's stock worth $981,000 after buying an additional 47,075 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of MRC Global by 18.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company's stock worth $16,636,000 after acquiring an additional 204,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in MRC Global by 2.7% in the second 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 buying an additional 97,445 shares during the period. 94.97% of the stock is owned by institutional investors and hedge funds.

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.

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