StockNews.com Downgrades MRC Global (NYSE:MRC) to Hold

StockNews.com lowered shares of MRC Global (NYSE:MRC - Free Report) from a buy rating to a hold rating in a research report released on Thursday.

MRC has been the subject of several other research reports. Loop Capital lowered their price objective on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Stifel Nicolaus lifted their target price on MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Susquehanna lowered their price objective on MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research report on Monday, April 14th.

MRC Global Stock Performance

Shares of NYSE MRC traded down $0.08 during trading hours on Thursday, reaching $12.73. The stock had a trading volume of 5,773 shares, compared to its average volume of 639,885. The business's fifty day moving average is $11.46 and its two-hundred day moving average is $12.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 14.64 and a beta of 1.63. MRC Global has a twelve month low of $9.23 and a twelve month high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The firm had revenue of $712.00 million during the quarter, compared to analyst estimates of $710.00 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business's revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 earnings per share. As a group, research analysts expect that MRC Global will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC lifted its holdings in MRC Global by 336.0% during the first quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company's stock worth $40,163,000 after acquiring an additional 2,696,044 shares in the last quarter. Nuveen LLC bought a new position in MRC Global in the first quarter valued at approximately $14,081,000. Pacer Advisors Inc. bought a new position in MRC Global in the first quarter valued at approximately $12,433,000. JPMorgan Chase & Co. lifted its position in MRC Global by 419.3% in the 4th quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company's stock valued at $10,375,000 after acquiring an additional 655,455 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC lifted its position in MRC Global by 64.0% in the 1st quarter. Cramer Rosenthal Mcglynn LLC now owns 1,303,210 shares of the oil and gas company's stock valued at $14,961,000 after acquiring an additional 508,723 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

About MRC Global

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.