Weiss Ratings Reiterates “Hold (C-)” Rating for MRC Global (NYSE:MRC)

MRC Global (NYSE:MRC)‘s stock had its “hold (c-)” rating reissued by equities research analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. Susquehanna lowered shares of MRC Global from a “positive” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Thursday, October 2nd. Finally, Zacks Research raised shares of MRC Global to a “hold” rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MRC Global currently has an average rating of “Hold” and a consensus target price of $16.00.

MRC Global Stock Up 0.6%

MRC opened at $14.49 on Friday. MRC Global has a twelve month low of $9.23 and a twelve month high of $15.59. The company has a market cap of $1.23 billion, a PE ratio of -60.38 and a beta of 1.62. The company has a quick ratio of 1.00, a current ratio of 1.84 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $14.42 and a 200 day moving average price of $13.36.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Thursday, May 26th. The oil and gas company reported ($0.07) earnings per share for the quarter. The firm had revenue of $609.00 million during the quarter. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. Sell-side analysts expect that MRC Global will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MRC Global

Several large investors have recently made changes to their positions in MRC. Lord Abbett & CO. LLC lifted its position in MRC Global by 336.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company’s stock valued at $40,163,000 after purchasing an additional 2,696,044 shares during the period. Bank of America Corp DE raised its holdings in MRC Global by 167.3% during the 2nd quarter. Bank of America Corp DE now owns 2,468,978 shares of the oil and gas company’s stock worth $33,850,000 after buying an additional 1,545,331 shares during the period. Nuveen LLC acquired a new stake in MRC Global during the 1st quarter worth approximately $14,081,000. Pacer Advisors Inc. acquired a new stake in shares of MRC Global in the first quarter valued at approximately $12,433,000. Finally, Cramer Rosenthal Mcglynn LLC grew its stake in shares of MRC Global by 64.0% in the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,303,210 shares of the oil and gas company’s stock valued at $14,961,000 after buying an additional 508,723 shares in the last quarter. 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.