MRC Global (NYSE:MRC) had its price target boosted by analysts at JPMorgan Chase & Co. from $25.00 to $27.00 in a note issued to investors on Monday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 40.19% from the company’s current price.

A number of other equities research analysts also recently weighed in on MRC. Zacks Investment Research downgraded shares of MRC Global from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 3rd. ValuEngine upgraded shares of MRC Global from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus upped their target price on shares of MRC Global from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Northcoast Research began coverage on shares of MRC Global in a research report on Tuesday, July 31st. They issued a “buy” rating and a $26.00 target price for the company. Finally, TheStreet upgraded shares of MRC Global from a “c+” rating to a “b-” rating in a research report on Thursday, July 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. MRC Global has an average rating of “Buy” and a consensus price target of $23.00.

Shares of NYSE:MRC opened at $19.26 on Monday. The company has a quick ratio of 1.12, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. MRC Global has a fifty-two week low of $14.01 and a fifty-two week high of $22.98. The stock has a market cap of $1.76 billion, a P/E ratio of 642.00, a price-to-earnings-growth ratio of 1.86 and a beta of 1.60.

MRC Global (NYSE:MRC) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). MRC Global had a net margin of 1.97% and a return on equity of 7.00%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company earned $0.02 EPS. MRC Global’s quarterly revenue was up 17.4% on a year-over-year basis. equities analysts expect that MRC Global will post 0.7 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC grew its position in MRC Global by 22.1% in the 1st quarter. Verition Fund Management LLC now owns 13,935 shares of the oil and gas company’s stock worth $229,000 after purchasing an additional 2,525 shares during the last quarter. Global X Management Co LLC lifted its stake in shares of MRC Global by 19.0% in the 2nd quarter. Global X Management Co LLC now owns 18,475 shares of the oil and gas company’s stock worth $400,000 after acquiring an additional 2,951 shares during the period. Principal Financial Group Inc. lifted its stake in shares of MRC Global by 10.3% in the 1st quarter. Principal Financial Group Inc. now owns 45,544 shares of the oil and gas company’s stock worth $749,000 after acquiring an additional 4,235 shares during the period. Northern Trust Corp lifted its stake in shares of MRC Global by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,121,413 shares of the oil and gas company’s stock worth $18,436,000 after acquiring an additional 4,310 shares during the period. Finally, First Midwest Bank Trust Division lifted its stake in shares of MRC Global by 13.2% in the 2nd quarter. First Midwest Bank Trust Division now owns 37,225 shares of the oil and gas company’s stock worth $807,000 after acquiring an additional 4,338 shares during the period. Hedge funds and other institutional investors own 96.79% of the company’s stock.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

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