MRC Global Inc. (NYSE:MRC) Receives $15.67 Average PT from Analysts

MRC Global Inc. (NYSE:MRC) has earned a consensus recommendation of “Buy” from the three brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $15.67.

Several brokerages recently commented on MRC. Susquehanna reaffirmed a “positive” rating and issued a $16.00 target price on shares of MRC Global in a research report on Wednesday, June 26th. StockNews.com raised shares of MRC Global from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th.

Insider Transactions at MRC Global

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MRC. SummerHaven Investment Management LLC increased its stake in shares of MRC Global by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 70,162 shares of the oil and gas company’s stock valued at $772,000 after buying an additional 1,025 shares during the period. ProShare Advisors LLC boosted its holdings in MRC Global by 8.5% in the first quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock valued at $190,000 after acquiring an additional 1,186 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in MRC Global by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 66,187 shares of the oil and gas company’s stock worth $832,000 after purchasing an additional 2,735 shares during the period. BNP Paribas Financial Markets increased its position in MRC Global by 4.0% in the first quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company’s stock worth $986,000 after purchasing an additional 2,994 shares during the period. Finally, Gladius Capital Management LP bought a new stake in MRC Global during the 3rd quarter worth about $33,000. Institutional investors own 94.97% of the company’s stock.

MRC Global Stock Performance

NYSE MRC opened at $12.91 on Friday. The company’s fifty day moving average is $12.58 and its two-hundred day moving average is $11.83. MRC Global has a 52-week low of $8.15 and a 52-week high of $14.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 15.01 and a beta of 2.03.

MRC Global (NYSE:MRC) last released its earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. MRC Global had a return on equity of 23.60% and a net margin of 2.97%. The business had revenue of $806.00 million for the quarter, compared to the consensus estimate of $760.76 million. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. Equities research analysts forecast that MRC Global will post 1 EPS for the current 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.