MRC Global (MRC) Stock Rating Reaffirmed by Stifel Nicolaus

MRC Global (NYSE:MRC)‘s stock had its “buy” rating reaffirmed by analysts at Stifel Nicolaus in a report released on Tuesday, MarketBeat.com reports. They currently have a $22.00 price target on the oil and gas company’s stock, up from their prior price target of $18.00. Stifel Nicolaus’ price objective would suggest a potential upside of 15.91% from the company’s current price.

A number of other research analysts have also issued reports on MRC. Cowen set a $24.00 target price on MRC Global and gave the stock a “buy” rating in a report on Friday, October 6th. Robert W. Baird reiterated a “hold” rating and issued a $21.00 price target on shares of MRC Global in a research report on Monday, October 9th. Zacks Investment Research lowered MRC Global from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. ValuEngine lowered MRC Global from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, Susquehanna Bancshares set a $21.00 price target on MRC Global and gave the company a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. MRC Global presently has a consensus rating of “Hold” and a consensus target price of $20.67.

MRC Global (NYSE:MRC) traded up $0.71 during trading hours on Tuesday, reaching $18.98. The company had a trading volume of 839,200 shares, compared to its average volume of 547,722. The firm has a market capitalization of $1,780.00, a price-to-earnings ratio of -67.79, a P/E/G ratio of 2.10 and a beta of 1.60. MRC Global has a 1 year low of $14.01 and a 1 year high of $22.26. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57.

MRC Global (NYSE:MRC) last released its earnings results on Thursday, November 2nd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). MRC Global had a positive return on equity of 1.44% and a negative net margin of 0.09%. equities analysts anticipate that MRC Global will post 0.09 earnings per share for the current fiscal year.

MRC Global announced that its Board of Directors has approved a share buyback program on Thursday, November 2nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in MRC. Citadel Advisors LLC boosted its position in MRC Global by 334.1% during the 2nd quarter. Citadel Advisors LLC now owns 1,913,550 shares of the oil and gas company’s stock worth $31,612,000 after acquiring an additional 1,472,693 shares during the period. Artisan Partners Limited Partnership acquired a new stake in MRC Global during the 2nd quarter worth about $17,961,000. BlackRock Inc. boosted its position in MRC Global by 8.9% during the 2nd quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock worth $128,164,000 after acquiring an additional 632,231 shares during the period. Thrivent Financial For Lutherans boosted its position in MRC Global by 38.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 1,369,000 shares of the oil and gas company’s stock worth $22,615,000 after acquiring an additional 381,510 shares during the period. Finally, Koch Industries Inc. acquired a new stake in MRC Global during the 2nd quarter worth about $238,000. Hedge funds and other institutional investors own 94.65% of the company’s stock.

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About MRC Global

MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.

Analyst Recommendations for MRC Global (NYSE:MRC)

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