MRC Global Inc (MRC) Receives Consensus Rating of “Hold” from Brokerages

Shares of MRC Global Inc (NYSE:MRC) have received a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $20.67.

MRC has been the topic of a number of recent research reports. Cowen set a $24.00 price target on MRC Global and gave the company a “buy” rating in a research note on Friday, October 6th. Robert W. Baird reissued a “hold” rating and set a $21.00 price target on shares of MRC Global in a research note on Monday, October 9th. Stifel Nicolaus reissued a “buy” rating and set a $20.00 price target on shares of MRC Global in a research note on Tuesday, October 17th. Zacks Investment Research lowered MRC Global from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, ValuEngine lowered MRC Global from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th.

In other MRC Global news, CEO Andrew R. Lane sold 293,154 shares of MRC Global stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total value of $5,569,926.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew R. Lane sold 180,621 shares of MRC Global stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $19.00, for a total value of $3,431,799.00. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in MRC Global in the third quarter worth approximately $276,000. BNP Paribas Arbitrage SA increased its holdings in shares of MRC Global by 328.0% during the second quarter. BNP Paribas Arbitrage SA now owns 16,568 shares of the oil and gas company’s stock valued at $274,000 after acquiring an additional 12,697 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of MRC Global by 1.2% during the second quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock valued at $302,000 after buying an additional 215 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of MRC Global by 2,026.6% during the third quarter. Cubist Systematic Strategies LLC now owns 19,288 shares of the oil and gas company’s stock valued at $337,000 after buying an additional 18,381 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of MRC Global during the third quarter valued at approximately $448,000. Institutional investors and hedge funds own 94.65% of the company’s stock.

Shares of MRC Global (NYSE MRC) traded up $0.31 during mid-day trading on Friday, hitting $18.81. The stock had a trading volume of 538,843 shares, compared to its average volume of 555,480. MRC Global has a 12-month low of $14.01 and a 12-month high of $22.26. The firm has a market capitalization of $1,763.99, a price-to-earnings ratio of -67.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.60. 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 (NYSE:MRC) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.05). MRC Global had a negative net margin of 0.09% and a positive return on equity of 1.44%. analysts forecast that MRC Global will post 0.09 EPS for the current year.

MRC Global declared that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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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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