Cowen and Company began coverage on shares of MRC Global Inc. (NYSE:MRC) in a research report released on Friday morning. The brokerage issued a market perform rating and a $16.00 price target on the stock.

Analyst Recommendations for MRC Global (NYSE:MRC)

A number of other research firms also recently weighed in on MRC. Wells Fargo & Co. reaffirmed a hold rating on shares of MRC Global in a research note on Sunday, September 4th. Capital One Financial Corp. raised MRC Global from an equal weight rating to an overweight rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. reaffirmed a buy rating on shares of MRC Global in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded MRC Global from a hold rating to a sell rating in a research note on Tuesday, July 5th. Finally, Maxim Group raised MRC Global from a hold rating to a buy rating and set a $16.00 price target on the stock in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $16.00.

Shares of MRC Global (NYSE:MRC) opened at 14.01 on Friday. The firm’s market capitalization is $1.35 billion. MRC Global has a 52-week low of $8.50 and a 52-week high of $15.59. The stock has a 50 day moving average price of $14.60 and a 200-day moving average price of $14.02.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.07. MRC Global had a positive return on equity of 1.60% and a negative net margin of 11.27%. The firm had revenue of $746 million for the quarter, compared to analyst estimates of $747.81 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was down 37.7% compared to the same quarter last year. Equities analysts forecast that MRC Global will post ($0.59) EPS for the current year.

In other news, EVP Daniel J. Churay sold 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $14.77, for a total value of $79,019.50. Following the completion of the transaction, the executive vice president now directly owns 46,292 shares of the company’s stock, valued at $683,732.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gerard Pieter Krans sold 23,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $15.33, for a total value of $352,590.00. Following the completion of the transaction, the director now directly owns 18,802 shares of the company’s stock, valued at $288,234.66. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its position in MRC Global by 10.6% in the second quarter. Public Employees Retirement System of Ohio now owns 18,193 shares of the company’s stock valued at $259,000 after buying an additional 1,737 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in MRC Global by 8.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 689,035 shares of the company’s stock valued at $9,792,000 after buying an additional 56,479 shares in the last quarter. Legal & General Group Plc raised its position in MRC Global by 50.9% in the second quarter. Legal & General Group Plc now owns 156,520 shares of the company’s stock valued at $2,207,000 after buying an additional 52,805 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in MRC Global during the second quarter valued at about $180,000. Finally, AQR Capital Management LLC raised its position in MRC Global by 13.0% in the second quarter. AQR Capital Management LLC now owns 352,538 shares of the company’s stock valued at $5,009,000 after buying an additional 40,636 shares in the last quarter. 99.30% of the stock is owned by institutional investors.

MRC Global Company Profile

MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.

5 Day Chart for NYSE:MRC

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