MRC Global (NYSE:MRC) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

MRC Global Inc. (NYSE:MRC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.03 and traded as high as $13.98. MRC Global shares last traded at $13.86, with a volume of 693,087 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Susquehanna boosted their target price on MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th.

MRC Global Stock Up 0.7 %

The company has a market cap of $1.18 billion, a P/E ratio of 15.93 and a beta of 1.97. The company’s 50-day moving average is $13.41 and its two-hundred day moving average is $13.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $797.00 million during the quarter, compared to analyst estimates of $794.17 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. As a group, equities analysts predict that MRC Global Inc. will post 0.85 earnings per share for the current fiscal year.

MRC Global declared that its board has initiated a stock buyback plan on Friday, January 3rd that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of MRC Global

A number of large investors have recently made changes to their positions in MRC. DekaBank Deutsche Girozentrale purchased a new stake in MRC Global in the second quarter worth approximately $56,000. Canada Pension Plan Investment Board bought a new stake in shares of MRC Global in the second quarter worth $56,000. Quarry LP grew its holdings in shares of MRC Global by 162.8% in the second quarter. Quarry LP now owns 7,333 shares of the oil and gas company’s stock worth $95,000 after acquiring an additional 4,543 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in MRC Global during the second quarter valued at $145,000. Finally, MQS Management LLC bought a new position in MRC Global in the third quarter valued at about $154,000. 94.97% of the stock is currently owned by institutional investors.

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.