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

Shares of MRC Global Inc (NYSE:MRC) have been given an average recommendation of “Hold” by the sixteen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.67.

A number of research analysts recently issued reports on the stock. ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price objective on shares of MRC Global in a research note on Thursday, December 14th. Cowen decreased their price objective on shares of MRC Global from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Finally, Susquehanna Bancshares set a $21.00 price objective on shares of MRC Global and gave the company a “buy” rating in a research note on Friday, January 12th.

Shares of MRC Global (MRC) traded up $0.11 during trading hours on Tuesday, reaching $16.29. 273,145 shares of the company were exchanged, compared to its average volume of 608,043. The company has a market capitalization of $1,512.54, a PE ratio of -58.03, a price-to-earnings-growth ratio of 1.69 and a beta of 1.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.31 and a quick ratio of 1.16. MRC Global has a fifty-two week low of $14.01 and a fifty-two week high of $22.20.

MRC Global announced that its board has authorized a share repurchase program on Thursday, November 2nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

In other MRC Global news, CEO Andrew R. Lane sold 180,621 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $19.00, for a total transaction of $3,431,799.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Lane sold 293,154 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total transaction of $5,569,926.00. The disclosure for this sale can be found here. Insiders own 6.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MRC. BlackRock Inc. grew its stake in shares of MRC Global by 8.9% during the second quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock worth $128,164,000 after buying an additional 632,231 shares during the last quarter. Suntrust Banks Inc. grew its stake 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 worth $302,000 after buying an additional 215 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of MRC Global by 13.3% during the second quarter. Voya Investment Management LLC now owns 42,040 shares of the oil and gas company’s stock worth $695,000 after buying an additional 4,920 shares during the last quarter. State Street Corp grew its stake in shares of MRC Global by 2.4% during the second quarter. State Street Corp now owns 1,989,151 shares of the oil and gas company’s stock worth $32,863,000 after buying an additional 45,858 shares during the last quarter. Finally, Sterling Capital Management LLC acquired a new position in shares of MRC Global during the second quarter worth $1,046,000. 91.93% 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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