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

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

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

MRC Global Stock Up 1.7 %

MRC opened at $12.91 on Thursday. The firm has a 50 day moving average price of $12.52 and a 200 day moving average price of $12.72. The company has a market cap of $1.10 billion, a PE ratio of 13.88 and a beta of 1.97. MRC Global has a 1 year low of $9.47 and a 1 year high of $14.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.08.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The firm had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The company’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. Sell-side analysts expect that MRC Global will post 0.91 earnings per share for the current year.

Institutional Trading of MRC Global

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in MRC Global in the first quarter valued at approximately $963,000. Beryl Capital Management LLC purchased a new position in shares of MRC Global during the 4th quarter valued at approximately $1,881,000. Rhumbline Advisers boosted its stake in shares of MRC Global by 62.0% during the 2nd quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock valued at $3,189,000 after buying an additional 94,566 shares during the last quarter. Quest Partners LLC boosted its stake in shares of MRC Global by 162.9% during the 2nd quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 47,075 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of MRC Global by 18.9% during the 2nd 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 last quarter. Institutional investors and hedge funds 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.