MRC Global (NYSE:MRC) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• MRC Global Inc.'s stock price recently crossed above its 200-day moving average of $13.10, reaching a high of $15.35 before settling at $15.07.
• The company reported a quarterly earnings per share (EPS) of $0.25, exceeding analysts’ expectations of $0.23, despite a 4.1% decline in revenue compared to the previous year.
• Current analyst ratings for MRC Global show a consensus of "Hold" with target prices ranging from $15.00 to $16.00.

MRC Global Inc. (NYSE:MRC - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.10 and traded as high as $15.35. MRC Global shares last traded at $15.07, with a volume of 565,976 shares changing hands.

Analyst Upgrades and Downgrades

MRC has been the topic of a number of research reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of MRC Global in a research report on Saturday, September 27th. Zacks Research upgraded MRC Global to a "hold" rating in a report on Friday, August 8th. Stifel Nicolaus lowered their target price on MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a report on Monday, July 21st. Finally, Susquehanna downgraded MRC Global from a "positive" rating to a "neutral" rating and set a $15.00 price target on the stock. in a research report on Thursday. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, MRC Global presently has a consensus rating of "Hold" and a consensus price target of $16.00.

MRC Global Stock Up 0.9%

The business's 50 day moving average is $14.50 and its 200 day moving average is $13.10. The company has a quick ratio of 1.00, a current ratio of 1.84 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.28 billion, a P/E ratio of -62.79 and a beta of 1.62.

MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. The business had revenue of $798.00 million for the quarter, compared to the consensus estimate of $784.60 million. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%.The business's revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.28 EPS. As a group, equities analysts anticipate that MRC Global Inc. will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MRC Global

A number of large investors have recently added to or reduced their stakes in MRC. Headlands Technologies LLC purchased a new stake in shares of MRC Global during the second quarter valued at about $25,000. EverSource Wealth Advisors LLC bought a new position in shares of MRC Global during the 2nd quarter worth approximately $27,000. SBI Securities Co. Ltd. lifted its position in MRC Global by 98.7% during the second quarter. SBI Securities Co. Ltd. now owns 2,023 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 1,005 shares during the last quarter. Summit Securities Group LLC acquired a new stake in MRC Global in the first quarter valued at approximately $44,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in MRC Global in the second quarter worth $67,000. 94.97% of the stock is currently owned by institutional investors.

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.

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