MRC Global (NYSE:MRC) Hits New 12-Month High After Analyst Upgrade

MRC Global Inc. (NYSE:MRC - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday after Susquehanna raised their price target on the stock from $13.00 to $15.00. Susquehanna currently has a positive rating on the stock. MRC Global traded as high as $12.89 and last traded at $12.81, with a volume of 42114 shares traded. The stock had previously closed at $12.56.

Separately, Stephens restated an "overweight" rating and set a $17.00 price objective on shares of MRC Global in a research note on Wednesday, February 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, MRC Global presently has an average rating of "Buy" and a consensus target price of $15.25.

Institutional Investors Weigh In On MRC Global

A number of hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP lifted its stake in MRC Global by 3.9% in the third quarter. Engineers Gate Manager LP now owns 25,157 shares of the oil and gas company's stock valued at $181,000 after buying an additional 945 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in MRC Global by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 70,162 shares of the oil and gas company's stock valued at $772,000 after buying an additional 1,025 shares during the last quarter. Legal & General Group Plc lifted its stake in MRC Global by 3.3% in the fourth quarter. Legal & General Group Plc now owns 38,723 shares of the oil and gas company's stock valued at $448,000 after buying an additional 1,234 shares during the last quarter. Sei Investments Co. lifted its stake in MRC Global by 10.7% in the fourth quarter. Sei Investments Co. now owns 13,754 shares of the oil and gas company's stock valued at $151,000 after buying an additional 1,329 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in MRC Global by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 337,546 shares of the oil and gas company's stock valued at $4,020,000 after buying an additional 1,473 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

MRC Global Price Performance

The business has a 50 day simple moving average of $11.85 and a 200-day simple moving average of $10.95. The company has a quick ratio of 0.76, a current ratio of 1.48 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.09 billion, a P/E ratio of 12.39 and a beta of 1.99.

MRC Global (NYSE:MRC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.12. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The business had revenue of $768.00 million for the quarter, compared to analysts' expectations of $810.52 million. During the same period in the previous year, the business earned $0.32 earnings per share. The company's revenue was down 11.6% on a year-over-year basis. Analysts predict that MRC Global Inc. will post 0.97 EPS for the current fiscal year.

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.