MRC Global Inc. (MRC) Rating Reiterated by Robert W. Baird
MRC Global Inc. (NYSE:MRC)‘s stock had its “hold” rating reaffirmed by analysts at Robert W. Baird in a note issued to investors on Monday. They currently have a $21.00 price target on the oil and gas company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 17.45% from the company’s current price.
A number of other equities analysts also recently issued reports on MRC. Cowen and Company set a $24.00 target price on MRC Global and gave the stock a “buy” rating in a research note on Friday, October 6th. J P Morgan Chase & Co cut their target price on MRC Global from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, September 12th. ValuEngine downgraded MRC Global from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Wells Fargo & Company reissued a “market perform” rating and set a $17.00 target price (down from $20.00) on shares of MRC Global in a research note on Wednesday, July 12th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of MRC Global in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.11.
Shares of MRC Global (NYSE MRC) opened at 17.88 on Monday. The firm has a 50-day moving average price of $16.89 and a 200 day moving average price of $17.41. The firm’s market capitalization is $1.69 billion. MRC Global has a one year low of $13.68 and a one year high of $22.52.
MRC Global (NYSE:MRC) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $916.82 million. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the company posted ($0.15) earnings per share. Equities analysts forecast that MRC Global will post $0.14 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of MRC Global in the 1st quarter worth approximately $148,000. Envestnet Asset Management Inc. grew its holdings in shares of MRC Global by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 321 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of MRC Global in the 1st quarter worth approximately $202,000. Redwood Investments LLC grew its holdings in shares of MRC Global by 24.0% in the 2nd quarter. Redwood Investments LLC now owns 11,450 shares of the oil and gas company’s stock worth $189,000 after acquiring an additional 2,213 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in shares of MRC Global in the 1st quarter worth approximately $227,000. Institutional investors and hedge funds own 97.21% of the company’s stock.
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.
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