Insider Buying: MRC Global CFO Buys 1,000 Shares of Stock (MRC)
MRC Global (NYSE:MRC) CFO James E. Braun acquired 1,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $24.60 per share, with a total value of $24,600.00. Following the purchase, the chief financial officer now directly owns 35,878 shares in the company, valued at approximately $882,599. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at BB&T Corp. reiterated a “buy” rating on shares of MRC Global in a research note on Tuesday, August 5th. They now have a $32.00 price target on the stock. Separately, analysts at Bank of America upgraded shares of MRC Global from a “neutral” rating to a “positive” rating in a research note on Monday, August 4th. They now have a $28.00 price target on the stock, down previously from $31.00. Finally, analysts at Bank of America upgraded shares of MRC Global from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 10th. They now have a $30.00 price target on the stock, up previously from $27.00. Nine investment analysts have rated the stock with a buy rating, MRC Global has an average rating of “Buy” and a consensus price target of $33.00.
MRC Global (NYSE:MRC) opened at 25.00 on Friday. MRC Global has a 52 week low of $24.11 and a 52 week high of $32.70. The stock has a 50-day moving average of $26.45 and a 200-day moving average of $27.44. The company has a market cap of $2.551 billion and a P/E ratio of 20.60.
MRC Global (NYSE:MRC) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.42 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.42. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts predict that MRC Global will post $1.61 earnings per share for the current fiscal year.
MRC Global Inc is a distributor of pipe, valves and fittings and related products and services to the energy industry.
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