MRC Global Given New $33.00 Price Target at Robert W. Baird (MRC)
Equities research analysts at Robert W. Baird boosted their target price on shares of MRC Global (NYSE:MRC) from $28.00 to $33.00 in a research note issued to investors on Friday, Analyst Ratings.Net reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 19.31% from the stock’s previous close.
Shares of MRC Global (NYSE:MRC) traded up 1.02% during mid-day trading on Friday, hitting $27.66. The stock had a trading volume of 411,112 shares. MRC Global has a 52-week low of $21.60 and a 52-week high of $34.14. The stock’s 50-day moving average is $26.35 and its 200-day moving average is $28.38. The company has a market cap of $2.813 billion and a price-to-earnings ratio of 20.06.
MRC Global (NYSE:MRC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. Analysts expect that MRC Global will post $1.74 EPS for the current fiscal year.
A number of other firms have also recently commented on MRC. Analysts at Global Hunter Securities raised their price target on shares of MRC Global (NYSE:MRC) from $29.00 to $32.50 in a research note to investors on Wednesday. Separately, analysts at Wunderlich initiated coverage on shares of MRC Global (NYSE:MRC) in a research note to investors on Friday, September 13th. They set a “buy” rating and a $33.00 price target on the stock. Finally, analysts at Zacks downgraded shares of MRC Global (NYSE:MRC) from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, September 5th. They now have a $24.80 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $31.40.
MRC Global Inc, formerly known as McJunkin Red Man Holding Corporation is a holding company. The Company is the distributor of pipe, valves and fittings (NYSE:MRC) and related products and services to the energy industry.
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