The stock of MRC Global Inc (NYSE:MRC) is a huge mover today! About 643,379 shares traded hands. MRC Global Inc (NYSE:MRC) has risen 33.05% since April 27, 2016 and is uptrending. It has outperformed by 27.82% the S&P500.
The move comes after 5 months positive chart setup for the $1.89B company. It was reported on Nov, 30 by Barchart.com. We have $21.39 PT which if reached, will make NYSE:MRC worth $132.30M more.
Analysts await MRC Global Inc (NYSE:MRC) to report earnings on February, 27. They expect $-0.10 earnings per share, down 183.33% or $0.22 from last year’s $0.12 per share. After $-0.06 actual earnings per share 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 “Sector Weight” rating on Friday, December 18 by KeyBanc Capital Markets. Maxim Group maintained the stock with “Buy” rating in Thursday, August 6 report. Longbow downgraded the stock to “Neutral” rating in Thursday, February 25 report. The stock of MRC Global Inc (NYSE:MRC) has “Outperform” rating given on Tuesday, November 8 by Cowen & Co. The rating was upgraded by Maxim Group to “Buy” on Thursday, August 4. Capital One downgraded the shares of MRC in a report on Thursday, February 25 to “Equal-Weight” rating. The stock has “Hold” rating given by Maxim Group on Tuesday, November 10. CapitalOne initiated the shares of MRC in a report on Tuesday, December 29 with “Overweight” rating. The rating was downgraded by KeyBanc Capital Markets on Monday, November 9 to “Sector Perform”. The firm has “Market Perform” rating by Cowen & Co given on Friday, September 16.
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.
Moreover, Cubist Systematic Strategies Ltd has 0.01% invested in MRC Global Inc (NYSE:MRC) for 16,022 shares. Caisse De Depot Et Placement Du Quebec, a Quebec – Canada-based fund reported 350,000 shares. Checchi Cap Advisers Limited Liability last reported 0% of its portfolio in the stock. Pioneer Invest Incorporated owns 276,840 shares or 0.01% of their US portfolio. Buckhead Management Llc last reported 0.46% of its portfolio in the stock. Cornerstone Cap Mngmt Hldg Limited Liability Company holds 0.05% or 470,612 shares in its portfolio. Graham Lp has 0.04% invested in the company for 53,353 shares. Ladenburg Thalmann Financial reported 4,579 shares or 0% of all its holdings. Moreover, Rhumbline Advisers has 0% invested in MRC Global Inc (NYSE:MRC) for 116,503 shares. Oxford Asset holds 134,710 shares or 0.08% of its portfolio. Mackenzie Fincl holds 2.20 million shares or 0.18% of its portfolio. Acadian Asset Mgmt Ltd Com has 0.03% invested in the company for 402,260 shares. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 2,437 shares. Landscape Cap Mgmt Llc accumulated 22,027 shares or 0.04% of the stock. Citadel Advisors Ltd Liability Corporation accumulated 0.02% or 1.10 million shares.
Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 7 sales for $2.24 million net activity. The insider CHURAY DANIEL J sold $79,041. Shares for $227,312 were sold by Krans Gerard Pieter on Thursday, June 9.
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.
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