MRC Global Inc (MRC) Raised to “Hold” at BidaskClub
MRC Global Inc (NYSE:MRC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
Several other analysts also recently weighed in on the company. Raymond James Financial, Inc. upgraded MRC Global from a “market perform” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Wednesday, April 19th. Susquehanna Bancshares Inc started coverage on MRC Global in a research report on Tuesday, April 11th. They set a “positive” rating and a $23.00 target price for the company. Seaport Global Securities upgraded MRC Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $25.00 in a research report on Tuesday, February 21st. Evercore ISI lifted their target price on MRC Global to $25.00 in a research report on Wednesday, February 22nd. Finally, TheStreet upgraded MRC Global from a “d+” rating to a “c” rating in a research report on Thursday, February 16th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $21.63.
MRC Global (MRC) traded down 5.37% during trading on Wednesday, hitting $17.80. 572,761 shares of the stock traded hands. MRC Global has a 52-week low of $11.50 and a 52-week high of $22.52. The firm has a 50-day moving average price of $18.91 and a 200 day moving average price of $19.64. The company’s market cap is $1.68 billion.
MRC Global (NYSE:MRC) last released its earnings results on Thursday, May 4th. The oil and gas company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. The business had revenue of $862 million for the quarter, compared to the consensus estimate of $798.38 million. During the same quarter last year, the business posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts expect that MRC Global will post $0.21 EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in MRC. Glassman Wealth Services purchased a new stake in MRC Global during the fourth quarter valued at $164,000. Ameritas Investment Partners Inc. purchased a new stake in MRC Global during the first quarter valued at $148,000. Envestnet Asset Management Inc. increased its stake in MRC Global by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 321 shares during the last quarter. Redwood Investments LLC increased its stake in MRC Global by 20.2% in the first quarter. Redwood Investments LLC now owns 9,237 shares of the oil and gas company’s stock valued at $169,000 after buying an additional 1,554 shares during the last quarter. Finally, Wexford Capital LP purchased a new stake in MRC Global during the fourth quarter valued at $223,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.
MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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