Brokerages Set MRC Global Inc. (NYSE:MRC) Target Price at $15.67

MRC Global Inc. (NYSE:MRC) has earned an average rating of “Buy” from the three ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $15.67.

Several equities research analysts recently issued reports on MRC shares. StockNews.com raised shares of MRC Global from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. 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.

Insider Buying and Selling

In other MRC Global news, insider Grant R. Bates sold 35,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $13.57, for a total transaction of $474,950.00. Following the completion of the sale, the insider now directly owns 110,191 shares in the company, valued at $1,495,291.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MRC Global news, insider Grant R. Bates sold 35,000 shares of MRC Global stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $13.57, for a total value of $474,950.00. Following the transaction, the insider now directly owns 110,191 shares of the company’s stock, valued at approximately $1,495,291.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Grant R. Bates sold 4,698 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $13.76, for a total value of $64,644.48. Following the completion of the sale, the insider now directly owns 145,191 shares of the company’s stock, valued at $1,997,828.16. The disclosure for this sale can be found here. Insiders have sold 90,698 shares of company stock worth $1,242,374 in the last quarter. 20.90% of the stock is currently owned by company insiders.

Institutional Trading of MRC Global

Several hedge funds and other institutional investors have recently bought and sold shares of MRC. Vanguard Group Inc. raised its position in shares of MRC Global by 2.0% during the first quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock valued at $115,391,000 after buying an additional 175,865 shares during 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 worth $92,521,000 after buying an additional 358,580 shares in the last quarter. Engine Capital Management LP increased its stake in MRC Global by 30.0% during the fourth quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock valued at $42,574,000 after acquiring an additional 891,454 shares during the period. Dimensional Fund Advisors LP raised its holdings in MRC Global by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,327,337 shares of the oil and gas company’s stock valued at $36,635,000 after acquiring an additional 36,845 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of MRC Global by 22.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,010,991 shares of the oil and gas company’s stock worth $30,863,000 after acquiring an additional 561,706 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Stock Performance

Shares of MRC Global stock opened at $12.77 on Friday. The stock has a market cap of $1.09 billion, a PE ratio of 14.85 and a beta of 2.00. MRC Global has a 12 month low of $8.15 and a 12 month high of $14.02. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $12.66 and a 200-day simple moving average of $11.87.

MRC Global (NYSE:MRC) last issued its earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $806.00 million during the quarter, compared to analyst estimates of $760.76 million. MRC Global had a net margin of 2.97% and a return on equity of 23.60%. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. On average, sell-side analysts anticipate that MRC Global will post 1 EPS for the current fiscal year.

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.