MRC Global (NYSE:MRC) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of MRC Global (NYSE:MRC) from a buy rating to a hold rating in a research note published on Thursday.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus upped their price target on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Susquehanna lowered their price objective on shares of MRC Global from $15.00 to $13.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Finally, Loop Capital cut their target price on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th.

MRC Global Stock Performance

MRC Global stock opened at $12.86 on Thursday. The firm has a fifty day simple moving average of $11.40 and a two-hundred day simple moving average of $12.65. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. MRC Global has a twelve month low of $9.23 and a twelve month high of $15.41. The company has a market capitalization of $1.11 billion, a PE ratio of 14.78 and a beta of 1.63.

MRC Global (NYSE:MRC) last released its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company had revenue of $712.00 million during the quarter, compared to analyst estimates of $710.00 million. During the same quarter in the previous year, the company posted $0.20 EPS. MRC Global’s revenue for the quarter was down 11.7% on a year-over-year basis. Research analysts expect that MRC Global will post 0.86 EPS for the current year.

Institutional Trading of MRC Global

Several large investors have recently added to or reduced their stakes in MRC. Huntington National Bank purchased a new stake in shares of MRC Global in the 4th quarter worth about $34,000. Sterling Capital Management LLC raised its stake in MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock worth $34,000 after buying an additional 2,406 shares in the last quarter. Summit Securities Group LLC purchased a new stake in MRC Global in the first quarter worth about $44,000. Meeder Asset Management Inc. bought a new stake in MRC Global during the 4th quarter valued at approximately $56,000. Finally, Quantinno Capital Management LP bought a new stake in MRC Global during the 4th quarter valued at approximately $129,000. 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.