MRC Global (NYSE:MRC) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of MRC Global (NYSE:MRC) from a strong-buy rating to a buy rating in a report published on Saturday.

Several other research firms also recently weighed in on MRC. Susquehanna raised their price objective on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their price target on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th.

MRC Global Stock Performance

MRC Global stock opened at $13.55 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.16 billion, a PE ratio of 15.57 and a beta of 1.97. MRC Global has a 12-month low of $9.77 and a 12-month high of $14.91. The business’s 50-day moving average price is $12.57 and its two-hundred day moving average price is $12.81.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $797.00 million for the quarter, compared to analyst estimates of $794.17 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. As a group, analysts expect that MRC Global will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MRC Global

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in MRC Global by 2.0% in 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 acquiring an additional 175,865 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of MRC Global by 0.4% in the 3rd quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock worth $73,520,000 after purchasing an additional 20,407 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of MRC Global by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock valued at $47,629,000 after purchasing an additional 97,445 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of MRC Global by 2.0% during the third quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock worth $17,448,000 after buying an additional 26,619 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in MRC Global by 18.9% in the second quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock valued at $16,636,000 after buying an additional 204,600 shares during the period. Institutional investors own 94.97% of the company’s stock.

About MRC Global

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.