Robert W. Baird Reiterates “Hold” Rating for MRC Global Inc. (MRC)

Robert W. Baird reissued their hold rating on shares of MRC Global Inc. (NYSE:MRC) in a research report released on Monday, October 9th. Robert W. Baird currently has a $21.00 price target on the oil and gas company’s stock.

Several other analysts have also recently issued reports on the company. Cowen and Company set a $24.00 target price on MRC Global and gave the stock a buy rating in a research report 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 report on Tuesday, September 12th. Stifel Nicolaus reiterated a buy rating and set a $19.00 target price on shares of MRC Global in a research report on Sunday, September 3rd. Wells Fargo & Company reiterated a market perform rating and set a $17.00 target price (down previously from $20.00) on shares of MRC Global in a research report on Wednesday, July 12th. Finally, ValuEngine cut MRC Global from a hold rating to a sell rating in a research report on Saturday, June 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $21.22.

MRC Global (NYSE:MRC) traded down 2.073% during mid-day trading on Monday, hitting $17.715. 177,696 shares of the stock were exchanged. The stock has a 50 day moving average price of $17.14 and a 200 day moving average price of $17.41. The company’s market capitalization is $1.67 billion. MRC Global has a 1-year low of $13.68 and a 1-year high of $22.52.

MRC Global (NYSE:MRC) last released its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The business had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $916.82 million. During the same quarter in the prior year, the business posted ($0.15) EPS. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, equities analysts anticipate that MRC Global will post $0.12 earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the company. Aperio Group LLC lifted its stake in shares of MRC Global by 3.0% in the 2nd quarter. Aperio Group LLC now owns 24,078 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 698 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of MRC Global by 7.4% in the 2nd quarter. Prudential Financial Inc. now owns 371,420 shares of the oil and gas company’s stock valued at $6,135,000 after purchasing an additional 25,720 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of MRC Global by 36.3% in the 1st quarter. Bank of America Corp DE now owns 627,269 shares of the oil and gas company’s stock valued at $11,499,000 after purchasing an additional 167,116 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of MRC Global in the 1st quarter valued at approximately $28,656,000. Finally, Artisan Partners Limited Partnership bought a new stake in shares of MRC Global in the 2nd quarter valued at approximately $17,961,000. 96.75% of the stock is owned by institutional investors and hedge funds.

MRC Global Company Profile

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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