MRC Global Inc. (MRC) Given Average Rating of “Hold” by Analysts

MRC Global Inc. (NYSE:MRC) has been given a consensus recommendation of “Hold” by the fifteen ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $20.67.

Several brokerages have weighed in on MRC. ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Zacks Investment Research upgraded shares of MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Cowen dropped their price objective on shares of MRC Global from $24.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price objective on shares of MRC Global in a research note on Tuesday, October 17th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $21.00 price objective on shares of MRC Global in a research note on Monday, October 9th.

MRC Global (NYSE:MRC) traded up $0.33 during midday trading on Thursday, hitting $15.71. 1,351,094 shares of the stock were exchanged, compared to its average volume of 898,819. The company has a quick ratio of 1.16, a current ratio of 2.31 and a debt-to-equity ratio of 0.57. MRC Global has a one year low of $14.01 and a one year high of $22.52.

MRC Global declared that its board has approved a stock repurchase plan on Thursday, November 2nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge funds have recently added to or reduced their stakes in the business. Redwood Investments LLC increased its holdings in MRC Global by 24.0% in the 2nd quarter. Redwood Investments LLC now owns 11,450 shares of the oil and gas company’s stock valued at $189,000 after buying an additional 2,213 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in MRC Global in the 3rd quarter valued at about $276,000. BNP Paribas Arbitrage SA grew its holdings in shares of MRC Global by 328.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,568 shares of the oil and gas company’s stock valued at $274,000 after purchasing an additional 12,697 shares during the last quarter. Suntrust Banks Inc. grew its holdings in shares of MRC Global by 1.2% during the 2nd quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 215 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of MRC Global by 2,026.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 19,288 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 18,381 shares during the last quarter. 94.58% of the stock is currently owned by hedge funds and other institutional investors.

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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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