The stock of MRC Global Inc (NYSE:MRC) hit a new 52-week high and has $23.15 target or 20.00% above today’s $19.29 share price. The 6 months bullish chart indicates low risk for the $1.80 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $23.15 price target is reached, the company will be worth $360.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 978,635 shares traded hands. MRC Global Inc (NYSE:MRC) has risen 34.07% since April 19, 2016 and is uptrending. It has outperformed by 30.20% the S&P500.
MRC Global Inc (NYSE:MRC) Ratings Coverage
Out of 7 analysts covering MRC Global (NYSE:MRC), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. MRC Global has been the topic of 11 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Monday, November 9, the company rating was downgraded by KeyBanc Capital Markets. The stock has “Sector Weight” rating given by KeyBanc Capital Markets on Friday, December 18. The firm has “Overweight” rating given on Tuesday, December 29 by CapitalOne. The rating was upgraded by Cowen & Co on Tuesday, November 8 to “Outperform”. Maxim Group maintained it with “Buy” rating and $17 target price in Thursday, August 6 report. The stock of MRC Global Inc (NYSE:MRC) has “Market Perform” rating given on Friday, September 16 by Cowen & Co. Maxim Group upgraded MRC Global Inc (NYSE:MRC) on Thursday, August 4 to “Buy” rating. On Thursday, February 25 the stock rating was downgraded by Longbow to “Neutral”. The rating was downgraded by Maxim Group on Tuesday, November 10 to “Hold”. The firm has “Equal-Weight” rating given on Thursday, February 25 by Capital One.
According to Zacks Investment Research, “MRC Global Inc. operates as a distributor of pipe, valve, and fittings and related products and services to the energy industry. The Company serves various industries such as chemical and petrochemical, food processing, gas distribution, gas transmission, oil and gas exploration and production, pharmaceutical, pulp and paper, refining, steel manufacturing, and power generation. The products offered by MRC include Valves and Specialty Products, Line Pipe, OCTG, Carbon Steel Fittings and Flanges and Stainless Steel and Alloy Pipe and Fittings and others. MRC Global Inc. is headquartered in Houston, Texas.”
Insitutional Activity: The institutional sentiment increased to 1.05 in Q2 2016. Its up 0.34, from 0.71 in 2016Q1. The ratio is positive, as 27 funds sold all MRC Global Inc shares owned while 67 reduced positions. 15 funds bought stakes while 52 increased positions. They now own 93.67 million shares or 6.21% less from 99.87 million shares in 2016Q1.
Ellington Mgmt Gru Lc reported 15,000 shares or 0.3% of all its holdings. Ubs Oconnor Ltd Com accumulated 1.69 million shares or 0% of the stock. Manufacturers Life Ins The holds 0% of its portfolio in MRC Global Inc (NYSE:MRC) for 63,057 shares. Amalgamated State Bank accumulated 10,234 shares or 0.01% of the stock. Jpmorgan Chase And has invested 0.01% of its portfolio in MRC Global Inc (NYSE:MRC). Checchi Advisers Limited Liability Com has invested 0% of its portfolio in MRC Global Inc (NYSE:MRC). California Employees Retirement System owns 446,800 shares or 0.01% of their US portfolio. Robeco Institutional Asset Mngmt Bv holds 351,410 shares or 0.04% of its portfolio. Price T Rowe Assocs Md has 0.01% invested in the company for 2.77M shares. Ig Inv Mgmt Limited accumulated 0.04% or 650,000 shares. Goldman Sachs Group Inc Inc, a New York-based fund reported 801,153 shares. Moreover, Mackenzie has 0.18% invested in MRC Global Inc (NYSE:MRC) for 2.20M shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 2,437 shares or 0% of its portfolio. Cubist Systematic Strategies Ltd Liability Corp, a Connecticut-based fund reported 16,022 shares. Fil Ltd last reported 309,897 shares in the company.
Insider Transactions: Since May 26, 2016, the stock had 0 insider buys, and 8 selling transactions for $2.26 million net activity. On Friday, August 12 the insider CHURAY DANIEL J sold $79,041. Another trade for 15,130 shares valued at $227,312 was made by Krans Gerard Pieter on Thursday, June 9.
More recent MRC Global Inc (NYSE:MRC) news were published by: Fool.com which released: “MRC Global Inc.’s Revenue Finally Stops Sliding” on November 04, 2016. Also Prnewswire.com published the news titled: “MRC Global Announces Launch of Enhanced Online Customer Catalog – MRCGOâ„¢” on October 31, 2016. Nasdaq.com‘s news article titled: “Surging Earnings Estimates Signal Good News for MRC Global (MRC)” with publication date: November 21, 2016 was also an interesting one.
MRC Company Profile
MRC Global Inc., incorporated on November 20, 2006, is an industrial distributor of pipe, valves and fittings (PVF) and related services and products to the energy industry. The Firm operates through three divisions: the United States of America, Canada and International. The Firm has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan. The Firm offers over 230,000 stock keeping units (SKUs), including an array of PVF, oilfield supply, automation, instrumentation and other general and specialty industry supply products from its global network of suppliers. The Firm provides services, such as product testing, maker assessments, multiple daily deliveries, volume purchasing, inventory and zone store management and warehousing, technical support, training, just-in-time delivery, truck stocking, order consolidation, product tagging and system interfaces customized to customer and supplier specifications for tracking and replenishing inventory, engineering of control packages, and valve inspection and repair.
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