Brokerages Set MRC Global Inc. (NYSE:MRC) Target Price at $15.67

MRC Global Inc. (NYSE:MRC) has been given an average recommendation of “Buy” by the three analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $15.67.

MRC has been the subject of several research reports. StockNews.com upgraded MRC Global from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Susquehanna reissued a “positive” rating and issued a $16.00 price target on shares of MRC Global in a report on Wednesday, June 26th.

Insider Buying and Selling at MRC Global

In related news, insider John P. Mccarthy sold 11,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total value of $151,580.00. Following the completion of the transaction, the insider now directly owns 85,674 shares in the company, valued at $1,180,587.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John P. Mccarthy sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.78, for a total value of $151,580.00. Following the completion of the sale, the insider now directly owns 85,674 shares in the company, valued at $1,180,587.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leonard M. Anthony sold 40,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total transaction of $551,200.00. Following the transaction, the director now directly owns 101,120 shares in the company, valued at approximately $1,393,433.60. The disclosure for this sale can be found here. In the last three months, insiders sold 90,698 shares of company stock worth $1,242,374. Insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On MRC Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of MRC Global by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock worth $115,391,000 after purchasing an additional 175,865 shares during the period. Pzena Investment Management LLC grew its stake in MRC Global by 5.1% during the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock worth $92,521,000 after buying an additional 358,580 shares during the period. Engine Capital Management LP increased its position in shares of MRC Global by 30.0% in the fourth quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock worth $42,574,000 after acquiring an additional 891,454 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MRC Global by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,327,337 shares of the oil and gas company’s stock valued at $36,635,000 after acquiring an additional 36,845 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of MRC Global by 22.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,010,991 shares of the oil and gas company’s stock valued at $30,863,000 after acquiring an additional 561,706 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Stock Performance

Shares of MRC stock opened at $12.77 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.81 and a current ratio of 1.48. The stock has a market cap of $1.09 billion, a PE ratio of 14.85 and a beta of 2.00. MRC Global has a 1 year low of $8.15 and a 1 year high of $14.02. The stock has a fifty day moving average price of $12.66 and a 200 day moving average price of $11.87.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The business had revenue of $806.00 million for the quarter, compared to analyst estimates of $760.76 million. MRC Global had a net margin of 2.97% and a return on equity of 23.60%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. Sell-side analysts forecast that MRC Global will post 1 earnings per share 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.