The stock of MRC Global Inc (NYSE:MRC) hit a new 52-week high and has $29.51 target or 58.00% above today’s $18.68 share price. The 9 months bullish chart indicates low risk for the $1.87B company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $29.51 price target is reached, the company will be worth $1.08B 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 92,590 shares traded hands. MRC Global Inc (NYSE:MRC) has risen 36.43% since April 14, 2016 and is uptrending. It has outperformed by 31.74% 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. Cowen & Co upgraded the shares of MRC in a report on Tuesday, November 8 to “Outperform” rating. On Tuesday, December 29 the stock rating was initiated by CapitalOne with “Overweight”. The rating was downgraded by Longbow on Thursday, February 25 to “Neutral”. Maxim Group upgraded MRC Global Inc (NYSE:MRC) on Thursday, August 4 to “Buy” rating. The firm earned “Equal-Weight” rating on Thursday, February 25 by Capital One. The firm earned “Market Perform” rating on Friday, September 16 by Cowen & Co. On Monday, November 9 the stock rating was downgraded by KeyBanc Capital Markets to “Sector Perform”. The company was initiated on Friday, December 18 by KeyBanc Capital Markets. The company was maintained on Thursday, August 6 by Maxim Group. The rating was downgraded by Maxim Group to “Hold” on Tuesday, November 10.
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 decreased to 0.71 in Q2 2016. Its down 0.92, from 1.63 in 2016Q1. The ratio fall, 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.
Fortaleza Asset Mgmt accumulated 0.1% or 8,300 shares. Parametric Portfolio Ltd Liability Company accumulated 0% or 124,046 shares. Cramer Rosenthal Mcglynn Limited Liability Company accumulated 0.23% or 1.01M shares. Gsa Cap Partners Llp accumulated 0.03% or 37,792 shares. Sg Americas Securities Ltd Liability accumulated 0.01% or 72,819 shares. Cushing Asset Management Ltd Partnership has invested 0.18% of its portfolio in MRC Global Inc (NYSE:MRC). Vident Invest Advisory Ltd Com last reported 0.35% of its portfolio in the stock. Los Angeles And Equity Research Inc last reported 12,365 shares in the company. Blackrock Inv Ltd Liability Co has 0.01% invested in the company for 386,358 shares. Vanguard Grp owns 6.92 million shares or 0.01% of their US portfolio. Lyrical Asset Ltd Partnership owns 5.30M shares or 1.57% of their US portfolio. Meeder Asset holds 0% or 1,705 shares in its portfolio. Millennium Ltd Liability Corp last reported 0.03% of its portfolio in the stock. Legal And General Pcl last reported 156,520 shares in the company. Moreover, Hbk Invs Limited Partnership has 0.02% invested in MRC Global Inc (NYSE:MRC) for 170,058 shares.
Insider Transactions: Since May 26, 2016, the stock had 0 insider buys, and 8 sales for $2.26 million net activity. Krans Gerard Pieter also sold $18,850 worth of MRC Global Inc (NYSE:MRC) shares. The insider CHURAY DANIEL J sold 5,350 shares worth $79,041.
More news for MRC Global Inc (NYSE:MRC) were recently published by: Fool.com, which released: “MRC Global Inc.’s Revenue Finally Stops Sliding” on November 04, 2016. Prnewswire.com‘s article titled: “MRC Global Announces Launch of Enhanced Online Customer Catalog – MRCGOâ„¢” and published on October 31, 2016 is yet another important article.
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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