MRC Global (MRC) Downgraded to “Hold” at Stifel Nicolaus

MRC Global (NYSE:MRC) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Tuesday, April 16th, MarketBeat reports. They currently have a $20.00 price target on the oil and gas company’s stock. Stifel Nicolaus’ target price points to a potential upside of 19.83% from the stock’s current price.

MRC has been the subject of several other research reports. Zacks Investment Research downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Stephens reissued a “buy” rating and set a $22.00 price objective on shares of MRC Global in a report on Wednesday, February 20th. ValuEngine raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Finally, Wells Fargo & Co dropped their price objective on shares of MRC Global from $18.00 to $13.00 and set a “market perform” rating for the company in a report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $21.44.

MRC Global stock traded down $0.13 during mid-day trading on Tuesday, hitting $16.69. The stock had a trading volume of 338,200 shares, compared to its average volume of 980,747. The company has a market capitalization of $1.49 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.04 and a beta of 1.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.17 and a current ratio of 2.57. MRC Global has a one year low of $11.62 and a one year high of $22.98.

MRC Global (NYSE:MRC) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.08. MRC Global had a net margin of 1.79% and a return on equity of 10.43%. The company had revenue of $970.00 million during the quarter, compared to the consensus estimate of $953.51 million. During the same quarter in the prior year, the firm posted $0.13 EPS. MRC Global’s quarterly revenue was down 4.0% compared to the same quarter last year. Analysts forecast that MRC Global will post 0.86 EPS for the current year.

In related news, EVP Daniel J. Churay sold 25,286 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $17.11, for a total value of $432,643.46. Following the sale, the executive vice president now directly owns 82,834 shares of the company’s stock, valued at approximately $1,417,289.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Grant R. Bates sold 30,500 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $18.78, for a total transaction of $572,790.00. Following the completion of the sale, the insider now directly owns 34,461 shares in the company, valued at $647,177.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,265 shares of company stock valued at $2,179,265. 23.10% of the stock is owned by insiders.

Several large investors have recently modified their holdings of MRC. Quantamental Technologies LLC purchased a new position in shares of MRC Global during the fourth quarter worth approximately $55,000. CX Institutional purchased a new position in shares of MRC Global during the fourth quarter worth approximately $57,000. Pearl River Capital LLC purchased a new position in MRC Global during the fourth quarter valued at approximately $101,000. Sun Life Financial INC purchased a new position in MRC Global during the fourth quarter valued at approximately $103,000. Finally, Amalgamated Bank purchased a new position in MRC Global during the fourth quarter valued at approximately $144,000.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

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Analyst Recommendations for MRC Global (NYSE:MRC)

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