MRC Global (NYSE:MRC) Upgraded by Wall Street Zen to "Buy" Rating

MRC Global (NYSE:MRC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

A number of other equities research analysts have also recently commented on MRC. Stifel Nicolaus raised their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Susquehanna cut their price target 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, Loop Capital decreased their price objective on MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, March 18th.

MRC Global Stock Performance

NYSE MRC traded up $0.18 during trading on Friday, reaching $12.78. The company's stock had a trading volume of 513,370 shares, compared to its average volume of 644,887. The firm has a 50 day moving average price of $11.65 and a 200 day moving average price of $12.59. MRC Global has a 12 month low of $9.23 and a 12 month high of $15.41. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.68 and a beta of 1.61. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.

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

Hedge Funds Weigh In On MRC Global

Several institutional investors and hedge funds have recently made changes to their positions in MRC. Meeder Asset Management Inc. boosted its position in MRC Global by 24.7% during the 1st quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock valued at $63,000 after buying an additional 1,081 shares during the period. Hsbc Holdings PLC raised its stake in shares of MRC Global by 3.7% during the fourth quarter. Hsbc Holdings PLC now owns 34,562 shares of the oil and gas company's stock valued at $440,000 after acquiring an additional 1,234 shares during the last quarter. Swiss National Bank boosted its holdings in shares of MRC Global by 0.9% during the fourth quarter. Swiss National Bank now owns 167,649 shares of the oil and gas company's stock worth $2,143,000 after purchasing an additional 1,500 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of MRC Global by 3.8% during the fourth quarter. MetLife Investment Management LLC now owns 51,551 shares of the oil and gas company's stock worth $659,000 after purchasing an additional 1,886 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of MRC Global by 2.0% in the fourth quarter. Federated Hermes Inc. now owns 104,601 shares of the oil and gas company's stock worth $1,337,000 after purchasing an additional 2,003 shares during the last quarter. Institutional investors own 94.97% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.