The stock of MRC Global Inc (NYSE:MRC) hit a new 52-week high and has $21.85 target or 8.00% above today’s $20.23 share price. The 6 months bullish chart indicates low risk for the $2.07 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $21.85 price target is reached, the company will be worth $165.60 million 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 1.00 million shares traded hands. MRC Global Inc (NYSE:MRC) has risen 47.80% since April 28, 2016 and is uptrending. It has outperformed by 41.87% the S&P500.
Analysts await MRC Global Inc (NYSE:MRC) to report earnings on February, 27. They expect $-0.10 EPS, down 183.33% or $0.22 from last year’s $0.12 per share. After $-0.06 actual EPS reported by MRC Global Inc for the previous quarter, Wall Street now forecasts 66.67% negative EPS growth.
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. The firm earned “Equal-Weight” rating on Thursday, February 25 by Capital One. On Friday, December 18 the stock rating was initiated by KeyBanc Capital Markets with “Sector Weight”. Cowen & Co upgraded it to “Outperform” rating and $18 target price in Tuesday, November 8 report. The stock has “Overweight” rating given by CapitalOne on Tuesday, December 29. The rating was downgraded by KeyBanc Capital Markets to “Sector Perform” on Monday, November 9. The rating was upgraded by Maxim Group to “Buy” on Thursday, August 4. The firm has “Hold” rating by Maxim Group given on Tuesday, November 10. Cowen & Co initiated the shares of MRC in a report on Friday, September 16 with “Market Perform” rating. The firm earned “Buy” rating on Thursday, August 6 by Maxim Group. Longbow downgraded the stock to “Neutral” rating in Thursday, February 25 report.
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 2016 Q2. Its up 0.34, from 0.71 in 2016Q1. The ratio increased, 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.
Principal Fincl Gru Inc Inc last reported 12,529 shares in the company. Moreover, Aqr Cap Management Lc has 0.01% invested in MRC Global Inc (NYSE:MRC) for 352,538 shares. New York State Common Retirement Fund holds 0% of its portfolio in MRC Global Inc (NYSE:MRC) for 149,523 shares. Nationwide Fund Advsrs owns 210,695 shares or 0.01% of their US portfolio. Checchi Advisers Limited Liability holds 0% of its portfolio in MRC Global Inc (NYSE:MRC) for 707 shares. Moreover, Winslow Asset Mgmt has 0.04% invested in MRC Global Inc (NYSE:MRC) for 14,000 shares. Citadel Ltd Company owns 1.10M shares or 0.02% of their US portfolio. Prudential reported 182,600 shares or 0% of all its holdings. Wells Fargo And Com Mn has invested 0.01% of its portfolio in MRC Global Inc (NYSE:MRC). Moreover, Envestnet Asset has 0% invested in MRC Global Inc (NYSE:MRC) for 9,693 shares. Pioneer Inv Mgmt last reported 0.01% of its portfolio in the stock. Bnp Paribas Arbitrage reported 8,210 shares or 0% of all its holdings. Pacad Invest Ltd holds 0.06% of its portfolio in MRC Global Inc (NYSE:MRC) for 30,769 shares. Citigroup last reported 0% of its portfolio in the stock. Geode Management Ltd Co has 657,427 shares for 0.01% of their US portfolio.
Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 7 selling transactions for $2.24 million net activity. $129,095 worth of shares were sold by Krans Gerard Pieter on Thursday, August 11. 5,350 shares were sold by CHURAY DANIEL J, worth $79,041.
Another recent and important MRC Global Inc (NYSE:MRC) news was published by Fool.com which published an article titled: “MRC Global Inc.’s Revenue Finally Stops Sliding” on November 04, 2016.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.