MRC Global Given Average Recommendation of “Hold” by Brokerages (NYSE:MRC)
MRC Global (NYSE:MRC) has been given an average rating of “Hold” by the ten ratings firms that are currently covering the company, StockRatingsNetwork.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $33.50.
Shares of MRC Global (NYSE:MRC) traded up 1.16% on Thursday, hitting $27.82. 243,485 shares of the company’s stock traded hands. MRC Global has a one year low of $23.15 and a one year high of $34.14. The stock has a 50-day moving average of $30.48 and a 200-day moving average of $28.61. The company has a market cap of $2.831 billion and a price-to-earnings ratio of 22.95.
A number of analysts have recently weighed in on MRC shares. Analysts at Zacks reiterated a “neutral” rating on shares of MRC Global in a research note to investors on Wednesday. They now have a $29.00 price target on the stock. Separately, analysts at Bank of America Corp. downgraded shares of MRC Global to an “underperform” rating in a research note to investors on Thursday, January 16th. Finally, analysts at Bank of America Corp. downgraded shares of MRC Global from a “buy” rating to an “underperform” rating in a research note to investors on Thursday, January 16th. They now have a $30.00 price target on the stock, down previously from $33.00.
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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