MRC Global (NYSE:MRC) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

MRC Global (NYSE:MRC - Get Free Report) had its price objective raised by Stifel Nicolaus from $15.00 to $17.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas company's stock. Stifel Nicolaus' price objective suggests a potential upside of 11.11% from the company's current price.

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

MRC Global Stock Up 14.9%

MRC stock traded up $1.98 during trading on Friday, reaching $15.30. The stock had a trading volume of 3,405,734 shares, compared to its average volume of 657,213. 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 $1.32 billion, a price-to-earnings ratio of -139.00 and a beta of 1.61. MRC Global has a one year low of $9.23 and a one year high of $15.54. The company's 50 day moving average is $12.40 and its two-hundred day moving average is $12.49.

MRC Global (NYSE:MRC - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.06. The company 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 12.82% and a net margin of 0.47%. MRC Global's quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. Equities research analysts forecast that MRC Global will post 0.86 EPS for the current year.

Hedge Funds Weigh In On MRC Global

Several institutional investors and hedge funds have recently bought and sold shares of MRC. Voya Investment Management LLC raised its holdings in MRC Global by 8.3% during the 1st quarter. Voya Investment Management LLC now owns 38,353 shares of the oil and gas company's stock valued at $440,000 after acquiring an additional 2,936 shares during the period. Strs Ohio purchased a new position in MRC Global in the 1st quarter worth approximately $602,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of MRC Global by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 270,742 shares of the oil and gas company's stock worth $3,108,000 after buying an additional 4,052 shares during the last quarter. Optimize Financial Inc raised its position in MRC Global by 12.7% during the first quarter. Optimize Financial Inc now owns 19,276 shares of the oil and gas company's stock valued at $221,000 after purchasing an additional 2,169 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of MRC Global by 2.0% during the 1st quarter. Empowered Funds LLC now owns 383,694 shares of the oil and gas company's stock valued at $4,405,000 after buying an additional 7,680 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

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.

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