MRC Global Inc. (NYSE:MRC) Receives Average Rating of “Hold” from Analysts
Shares of MRC Global Inc. (NYSE:MRC) have received an average recommendation of “Hold” from the eleven ratings firms that are covering the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $16.00.
Several research firms have recently commented on MRC. Maxim Group upgraded MRC Global from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, August 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of MRC Global in a research report on Wednesday, August 3rd. Capital One Financial Corp. upgraded MRC Global from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 3rd. Zacks Investment Research cut MRC Global from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of MRC Global in a research report on Sunday, September 4th.
In other news, Director Gerard Pieter Krans sold 8,600 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $15.01, for a total value of $129,086.00. Following the completion of the transaction, the director now owns 18,802 shares in the company, valued at $282,218.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Daniel J. Churay sold 5,350 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $14.77, for a total value of $79,019.50. Following the completion of the transaction, the executive vice president now owns 46,292 shares of the company’s stock, valued at approximately $683,732.84. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA purchased a new position in shares of MRC Global during the first quarter worth $1,033,000. TIAA CREF Investment Management LLC boosted its position in shares of MRC Global by 10.4% in the first quarter. TIAA CREF Investment Management LLC now owns 368,655 shares of the company’s stock worth $4,844,000 after buying an additional 34,720 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of MRC Global by 40.4% in the first quarter. Teachers Advisors Inc. now owns 621,678 shares of the company’s stock worth $8,169,000 after buying an additional 178,873 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of MRC Global by 31.2% in the first quarter. Prudential Financial Inc. now owns 274,020 shares of the company’s stock worth $3,601,000 after buying an additional 65,200 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of MRC Global by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,630,589 shares of the company’s stock worth $34,566,000 after buying an additional 42,963 shares in the last quarter. Institutional investors and hedge funds own 99.30% of the company’s stock.
Shares of MRC Global (NYSE:MRC) traded up 0.60% on Monday, hitting $16.77. 1,140,405 shares of the stock traded hands. The company’s market cap is $1.62 billion. The firm’s 50 day moving average is $15.03 and its 200-day moving average is $14.15. MRC Global has a 12 month low of $8.50 and a 12 month high of $17.11.
MRC Global (NYSE:MRC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.07. MRC Global had a positive return on equity of 1.60% and a negative net margin of 11.27%. The company had revenue of $746 million for the quarter, compared to analysts’ expectations of $747.81 million. During the same quarter last year, the company earned $0.22 EPS. MRC Global’s revenue for the quarter was down 37.7% compared to the same quarter last year. Equities analysts predict that MRC Global will post ($0.59) earnings per share for the current year.
About MRC Global
MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.
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