MRC Global (NYSE:MRC) Trading Up 5.9% - What's Next?

MRC Global Inc. (NYSE:MRC - Get Free Report)'s stock price was up 5.9% on Tuesday . The stock traded as high as $13.86 and last traded at $13.91. Approximately 647,635 shares changed hands during trading, a decline of 7% from the average daily volume of 699,028 shares. The stock had previously closed at $13.14.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MRC shares. Wall Street Zen upgraded MRC Global from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Susquehanna cut their price objective on MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus lifted their price objective on MRC Global from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, June 27th.

MRC Global Price Performance

The company has a fifty day moving average price of $12.99 and a two-hundred day moving average price of $12.55. The firm has a market cap of $1.21 billion, a P/E ratio of -127.64 and a beta of 1.61. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70.

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

Institutional Investors Weigh In On MRC Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank acquired a new stake in MRC Global in the 4th quarter valued at approximately $34,000. Sterling Capital Management LLC raised its position in MRC Global by 821.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock valued at $34,000 after buying an additional 2,406 shares during the last quarter. Summit Securities Group LLC acquired a new stake in MRC Global in the 1st quarter valued at approximately $44,000. Meeder Asset Management Inc. acquired a new stake in MRC Global in the 4th quarter valued at approximately $56,000. Finally, Quantinno Capital Management LP acquired a new position in shares of MRC Global during the 4th quarter worth approximately $129,000. 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.