Stifel Nicolaus Reaffirms Buy Rating for MRC Global (MRC)

Stifel Nicolaus restated their buy rating on shares of MRC Global (NYSE:MRC) in a report published on Tuesday, MarketBeat.com reports. Stifel Nicolaus currently has a $22.00 price target on the oil and gas company’s stock, up from their previous price target of $18.00.

A number of other analysts have also commented on the company. Zacks Investment Research raised MRC Global from a sell rating to a hold rating in a research note on Thursday, October 26th. Cowen set a $24.00 price target on MRC Global and gave the stock a buy rating in a research note on Friday, October 6th. Robert W. Baird reaffirmed a hold rating and issued a $21.00 price target on shares of MRC Global in a research note on Monday, October 9th. ValuEngine lowered MRC Global from a hold rating to a sell rating in a research note on Thursday, November 9th. Finally, Susquehanna Bancshares set a $21.00 price target on MRC Global and gave the stock a buy rating in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. MRC Global presently has an average rating of Hold and a consensus target price of $20.67.

Shares of MRC Global (NYSE:MRC) traded up $0.31 during mid-day trading on Tuesday, reaching $18.81. The company had a trading volume of 538,843 shares, compared to its average volume of 555,477. MRC Global has a 12 month low of $14.01 and a 12 month high of $22.26. The stock has a market capitalization of $1,763.99, a price-to-earnings ratio of -67.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.31 and a quick ratio of 1.16.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). MRC Global had a positive return on equity of 1.44% and a negative net margin of 0.09%. research analysts predict that MRC Global will post 0.09 EPS for the current year.

MRC Global declared that its board has initiated a share repurchase program on Thursday, November 2nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other news, CEO Andrew R. Lane sold 293,154 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total transaction of $5,569,926.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew R. Lane sold 180,621 shares of the firm’s stock in a transaction on 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. 6.30% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of MRC Global during the third quarter valued at $276,000. BNP Paribas Arbitrage SA increased its holdings in shares of MRC Global by 328.0% during the second quarter. BNP Paribas Arbitrage SA now owns 16,568 shares of the oil and gas company’s stock valued at $274,000 after acquiring an additional 12,697 shares in the last quarter. Suntrust Banks Inc. increased its holdings in shares of MRC Global by 1.2% during the second quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock valued at $302,000 after acquiring an additional 215 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of MRC Global by 2,026.6% during the third quarter. Cubist Systematic Strategies LLC now owns 19,288 shares of the oil and gas company’s stock valued at $337,000 after acquiring an additional 18,381 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of MRC Global during the third quarter valued at $448,000. Hedge funds and other institutional investors own 94.65% 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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