StockNews.com Upgrades MRC Global (NYSE:MRC) to “Buy”

MRC Global (NYSE:MRCGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of MRC Global from a “hold” rating to a “strong-buy” rating and set a $8.75 price objective on the stock in a report on Tuesday, January 11th. TheStreet raised shares of MRC Global from a “d+” rating to a “c-” rating in a report on Tuesday, March 15th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $10.92.

Shares of MRC Global stock opened at $12.08 on Thursday. The stock has a market capitalization of $1.01 billion, a P/E ratio of -26.26 and a beta of 2.03. The company has a quick ratio of 1.02, a current ratio of 2.06 and a debt-to-equity ratio of 0.91. The company has a 50-day simple moving average of $11.79 and a 200 day simple moving average of $9.27. MRC Global has a 12-month low of $6.38 and a 12-month high of $13.44.

MRC Global (NYSE:MRCGet Rating) last issued its quarterly earnings data on Tuesday, February 15th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.23. MRC Global had a negative net margin of 0.75% and a positive return on equity of 8.33%. The firm had revenue of $686.00 million for the quarter, compared to analyst estimates of $686.07 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, equities analysts anticipate that MRC Global will post 0.83 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of MRC. First Trust Advisors LP boosted its stake in shares of MRC Global by 130.2% in the 1st quarter. First Trust Advisors LP now owns 131,570 shares of the oil and gas company’s stock valued at $2,300,000 after purchasing an additional 74,404 shares during the last quarter. Morgan Stanley boosted its stake in shares of MRC Global by 12.5% in the 2nd quarter. Morgan Stanley now owns 400,233 shares of the oil and gas company’s stock valued at $3,762,000 after purchasing an additional 44,315 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of MRC Global in the 3rd quarter valued at about $410,000. South Dakota Investment Council boosted its stake in shares of MRC Global by 34.4% in the 3rd quarter. South Dakota Investment Council now owns 1,014,078 shares of the oil and gas company’s stock valued at $7,443,000 after purchasing an additional 259,694 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of MRC Global by 16.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 12,578 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 1,780 shares during the last quarter. 94.09% of the stock is currently owned by institutional investors.

About MRC Global (Get Rating)

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.

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