MRC Global (NYSE:MRC) Stock Rating Upgraded by StockNews.com

MRC Global (NYSE:MRC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

Separately, Susquehanna reaffirmed a “positive” rating and set a $16.00 price target on shares of MRC Global in a report on Wednesday, June 26th.

MRC Global Price Performance

MRC Global stock opened at $12.48 on Tuesday. The firm has a market cap of $1.06 billion, a PE ratio of 14.51 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. The stock’s fifty day moving average price is $12.92 and its two-hundred day moving average price is $12.70. MRC Global has a one year low of $9.47 and a one year high of $14.91.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates 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 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. MRC Global’s revenue was down 4.5% on a year-over-year basis. As a group, research analysts expect that MRC Global will post 0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On MRC Global

Institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new position in MRC Global in the second quarter valued at about $312,000. Quarry LP grew its holdings in shares of MRC Global by 162.8% during the 2nd quarter. Quarry LP now owns 7,333 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 4,543 shares during the last quarter. Algert Global LLC increased its position 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 purchasing an additional 125,574 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in MRC Global by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock valued at $414,000 after purchasing an additional 1,289 shares during the last quarter. Finally, Millennium Management LLC boosted its position in MRC Global by 2.8% in the second quarter. Millennium Management LLC now owns 1,008,804 shares of the oil and gas company’s stock valued at $13,024,000 after buying an additional 27,709 shares in the last quarter. Institutional investors and hedge funds 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.