MRC Global (MRC) PT Set at $21.00 by Susquehanna Bancshares
Susquehanna Bancshares set a $21.00 target price on MRC Global (NYSE:MRC) in a research note issued to investors on Friday morning. The firm currently has a buy rating on the oil and gas company’s stock.
A number of other equities analysts also recently commented on MRC. Zacks Investment Research downgraded shares of MRC Global from a hold rating to a strong sell rating in a research note on Monday, January 8th. Stifel Nicolaus reiterated a buy rating and set a $20.00 target price on shares of MRC Global in a research note on Tuesday, October 17th. ValuEngine downgraded shares of MRC Global from a hold rating to a sell rating in a research note on Thursday, November 9th. Cowen lowered their target price on shares of MRC Global from $24.00 to $19.00 and set an outperform rating for the company in a research note on Monday, November 6th. Finally, Robert W. Baird reiterated a hold rating and set a $21.00 target price on shares of MRC Global in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $20.22.
Shares of MRC Global (NYSE MRC) traded up $0.71 during mid-day trading on Friday, hitting $18.98. 839,204 shares of the company were exchanged, compared to its average volume of 802,154. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1,790.00, a P/E ratio of -67.79, a P/E/G ratio of 2.02 and a beta of 1.60. MRC Global has a 12-month low of $14.01 and a 12-month high of $22.26.
MRC Global announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in MRC. Schwab Charles Investment Management Inc. lifted its position in MRC Global by 3.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 871,788 shares of the oil and gas company’s stock valued at $14,402,000 after acquiring an additional 31,814 shares during the last quarter. Bank of New York Mellon Corp lifted its position in MRC Global by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 494,470 shares of the oil and gas company’s stock valued at $8,168,000 after acquiring an additional 24,405 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in MRC Global by 328.0% in 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 during the last quarter. Prudential Financial Inc. lifted its position in MRC Global by 7.4% in the second quarter. Prudential Financial Inc. now owns 371,420 shares of the oil and gas company’s stock valued at $6,135,000 after acquiring an additional 25,720 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in MRC Global in the second quarter valued at $518,000. 94.08% of the stock is owned by hedge funds and other institutional investors.
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.
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