MRC Global’s (MRC) “Buy” Rating Reiterated at Alembic Global Advisors

Alembic Global Advisors reaffirmed their buy rating on shares of MRC Global (NYSE:MRC) in a research report report published on Tuesday morning.

A number of other equities research analysts have also recently weighed in on MRC. Zacks Investment Research upgraded MRC Global from a sell rating to a hold rating in a research note on Thursday, October 26th. Cowen decreased their price objective on MRC Global from $24.00 to $19.00 and set an outperform rating for the company in a research note on Monday, November 6th. ValuEngine cut MRC Global from a hold rating to a sell rating in a research note on Thursday, November 9th. Stifel Nicolaus restated a buy rating and set a $18.00 price objective on shares of MRC Global in a research note on Thursday, December 14th. Finally, Susquehanna Bancshares set a $21.00 price objective on MRC Global and gave the stock a buy rating in a research note on Friday, January 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $20.56.

Shares of MRC Global (NYSE MRC) opened at $17.15 on Tuesday. MRC Global has a 1-year low of $14.01 and a 1-year high of $21.06. The firm has a market capitalization of $1,492.63, a price-to-earnings ratio of 63.52, a price-to-earnings-growth ratio of 1.65 and a beta of 1.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.35 and a quick ratio of 1.16.

MRC Global (NYSE:MRC) last issued its earnings results on Thursday, February 15th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.06). MRC Global had a return on equity of 3.54% and a net margin of 1.37%. The firm had revenue of $903.00 million during the quarter, compared to analysts’ expectations of $907.63 million. During the same quarter in the prior year, the company posted ($0.18) earnings per share. MRC Global’s quarterly revenue was up 25.6% compared to the same quarter last year. sell-side analysts predict that MRC Global will post 0.66 earnings per share for the current fiscal year.

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

In other MRC Global news, CEO Andrew R. Lane sold 293,154 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total value of $5,569,926.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Lane sold 180,621 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $19.00, for a total value of $3,431,799.00. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MRC. Luminus Management LLC purchased a new stake in MRC Global in the fourth quarter valued at about $24,348,000. Citadel Advisors LLC raised its stake in MRC Global by 60.9% in the third quarter. Citadel Advisors LLC now owns 3,078,500 shares of the oil and gas company’s stock valued at $53,844,000 after buying an additional 1,164,950 shares during the last quarter. Alliancebernstein L.P. raised its stake in MRC Global by 28.5% in the fourth quarter. Alliancebernstein L.P. now owns 4,845,387 shares of the oil and gas company’s stock valued at $81,984,000 after buying an additional 1,074,208 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in MRC Global by 58.5% in the fourth quarter. Thrivent Financial For Lutherans now owns 2,276,750 shares of the oil and gas company’s stock valued at $38,523,000 after buying an additional 840,210 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in MRC Global by 12.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,250,443 shares of the oil and gas company’s stock valued at $71,917,000 after buying an additional 468,457 shares during the last quarter. Institutional investors own 93.70% of the company’s stock.

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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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