MRC Global Inc (MRC) Given Average Rating of “Hold” by Analysts
MRC Global Inc (NYSE:MRC) has received a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.67.
MRC has been the topic of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $20.00 target price on shares of MRC Global in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Cowen dropped their target price on shares of MRC Global from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. ValuEngine lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Finally, Susquehanna Bancshares set a $21.00 target price on shares of MRC Global and gave the company a “buy” rating in a report on Friday, January 12th.
In other news, CEO Andrew R. Lane sold 180,621 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $19.00, for a total transaction of $3,431,799.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrew R. Lane sold 293,154 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $19.00, for a total transaction of $5,569,926.00. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.
MRC Global (NYSE MRC) traded up $0.11 during mid-day trading on Tuesday, reaching $16.29. 273,145 shares of the company traded hands, compared to its average volume of 608,043. The firm has a market capitalization of $1,512.54, a price-to-earnings ratio of -58.03, a price-to-earnings-growth ratio of 1.69 and a beta of 1.56. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. MRC Global has a 1-year low of $14.01 and a 1-year high of $22.20.
MRC Global declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
COPYRIGHT VIOLATION WARNING: This report was originally published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://theolympiareport.com/2018/02/13/mrc-global-inc-mrc-given-average-rating-of-hold-by-analysts.html.
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.
Receive News & Ratings for MRC Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MRC Global and related companies with MarketBeat.com's FREE daily email newsletter.