MRC Global Inc. (NYSE:MRC) has been given an average recommendation of “Hold” by the fifteen research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $21.22.

MRC has been the topic of a number of research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $19.00 target price on shares of MRC Global in a research report on Sunday, September 3rd. Cowen and Company set a $24.00 price objective on shares of MRC Global and gave the company a “buy” rating in a report on Friday, October 6th. Wells Fargo & Company reissued a “market perform” rating and set a $17.00 price objective (down from $20.00) on shares of MRC Global in a report on Wednesday, July 12th. Robert W. Baird reissued a “hold” rating and set a $21.00 price objective on shares of MRC Global in a report on Monday, October 9th. Finally, Zacks Investment Research lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th.

Shares of MRC Global (NYSE MRC) traded down $0.39 during trading hours on Friday, hitting $16.58. 1,710,367 shares of the stock were exchanged, compared to its average volume of 499,910. MRC Global has a fifty-two week low of $13.68 and a fifty-two week high of $22.52. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.19 and a current ratio of 2.35.

MRC Global (NYSE:MRC) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The company had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $916.82 million. MRC Global had a positive return on equity of 1.45% and a negative net margin of 0.09%. The business’s revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted ($0.15) earnings per share. sell-side analysts anticipate that MRC Global will post 0.15 earnings per share for the current year.

MRC Global announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 2nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in MRC Global by 12.5% in the first quarter. Vanguard Group Inc. now owns 8,073,947 shares of the oil and gas company’s stock valued at $147,994,000 after acquiring an additional 894,581 shares in the last quarter. BlackRock Inc. boosted its stake in MRC Global by 8.9% in the second quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock valued at $128,164,000 after acquiring an additional 632,231 shares in the last quarter. FMR LLC boosted its stake in MRC Global by 1.8% in the second quarter. FMR LLC now owns 6,270,253 shares of the oil and gas company’s stock valued at $103,585,000 after acquiring an additional 108,278 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in MRC Global by 3.4% in the second quarter. JPMorgan Chase & Co. now owns 2,892,475 shares of the oil and gas company’s stock valued at $47,784,000 after acquiring an additional 95,838 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of MRC Global by 1.2% during the third quarter. Frontier Capital Management Co. LLC now owns 2,567,769 shares of the oil and gas company’s stock worth $44,910,000 after buying an additional 30,382 shares during the period. Institutional investors own 96.52% of the company’s stock.

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About MRC Global

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.

Analyst Recommendations for MRC Global (NYSE:MRC)

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