MRC Global (NYSE:MRC) Price Target Cut to $16.00 by Analysts at Stifel Nicolaus

MRC Global (NYSE:MRC - Get Free Report) had its price target dropped by stock analysts at Stifel Nicolaus from $17.00 to $16.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas company's stock. Stifel Nicolaus' price target would suggest a potential upside of 9.03% from the stock's previous close.

Several other equities analysts have also recently issued reports on the company. Wall Street Zen raised MRC Global from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Susquehanna decreased their target price on MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a research report on Monday, April 14th.

MRC Global Stock Up 1.7%

Shares of MRC traded up $0.25 during mid-day trading on Monday, hitting $14.68. 658,616 shares of the company traded hands, compared to its average volume of 862,910. MRC Global has a 1-year low of $9.23 and a 1-year high of $15.59. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.26 billion, a PE ratio of -133.32 and a beta of 1.61. The business has a 50 day moving average of $13.03 and a 200 day moving average of $12.56.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. MRC Global had a net margin of 0.47% and a return on equity of 12.82%. The company had revenue of $712.00 million during the quarter, compared to analyst estimates of $710.00 million. During the same period last year, the firm posted $0.20 EPS. MRC Global's revenue for the quarter was down 11.7% compared to the same quarter last year. Equities research analysts anticipate that MRC Global will post 0.86 EPS for the current year.

Institutional Trading of MRC Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank acquired a new stake in shares of MRC Global in the 4th quarter worth $34,000. Sterling Capital Management LLC grew its holdings in shares of MRC Global by 821.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 2,406 shares during the period. Summit Securities Group LLC purchased a new position in shares of MRC Global during the 1st quarter worth $44,000. Meeder Asset Management Inc. purchased a new position in shares of MRC Global during the 4th quarter worth $56,000. Finally, Quantinno Capital Management LP purchased a new position in shares of MRC Global during the 4th quarter worth $129,000. 94.97% of the stock is owned by institutional investors and hedge funds.

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.