MRC Global (NYSE:MRC) Price Target Raised to $17.00

MRC Global (NYSE:MRC) had its price target upped by investment analysts at Susquehanna from $16.00 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price target suggests a potential upside of 24.63% from the company’s previous close.

A number of other brokerages have also commented on MRC. Stifel Nicolaus increased their price objective on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com raised MRC Global from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st.

MRC Global Stock Performance

Shares of MRC stock opened at $13.64 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. The firm has a market cap of $1.16 billion, a P/E ratio of 15.68 and a beta of 1.97. The stock’s 50-day moving average is $12.53 and its two-hundred day moving average is $12.77. MRC Global has a fifty-two week low of $9.77 and a fifty-two week high of $14.91.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $797.00 million for the quarter, compared to analyst estimates of $794.17 million. MRC Global had a return on equity of 20.12% and a net margin of 3.09%. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 EPS. Analysts predict that MRC Global will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of MRC Global

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of MRC Global by 308.2% in the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 1,951 shares during the period. Innealta Capital LLC bought a new stake in shares of MRC Global in the 2nd quarter worth approximately $45,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MRC Global in the 2nd quarter worth approximately $56,000. Canada Pension Plan Investment Board bought a new stake in shares of MRC Global in the 2nd quarter worth approximately $56,000. Finally, nVerses Capital LLC bought a new stake in shares of MRC Global in the 2nd quarter worth approximately $70,000. Institutional investors own 94.97% of the company’s stock.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.