MRC Global Inc. (NYSE:MRC) Short Interest Update

MRC Global Inc. (NYSE:MRC) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,250,000 shares, a decline of 22.8% from the March 15th total of 1,620,000 shares. Based on an average daily trading volume, of 579,400 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of MRC Global in a research note on Wednesday, February 14th. Susquehanna upped their target price on MRC Global from $13.00 to $15.00 and gave the company a “positive” rating in a research note on Monday, April 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MRC Global presently has a consensus rating of “Buy” and an average target price of $15.25.

Hedge Funds Weigh In On MRC Global

A number of large investors have recently made changes to their positions in MRC. Gladius Capital Management LP bought a new position in shares of MRC Global in the third quarter worth about $33,000. Luminus Management LLC bought a new position in MRC Global during the third quarter worth about $42,000. Coppell Advisory Solutions Corp. acquired a new stake in MRC Global in the 4th quarter valued at $45,000. Quarry LP increased its position in shares of MRC Global by 542.4% during the 1st quarter. Quarry LP now owns 5,242 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 4,426 shares in the last quarter. Finally, Ensign Peak Advisors Inc bought a new position in shares of MRC Global in the third quarter valued at approximately $61,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Stock Performance

Shares of NYSE MRC traded down $0.14 during midday trading on Monday, hitting $11.94. The company’s stock had a trading volume of 536,411 shares, compared to its average volume of 583,032. The firm has a market cap of $1.01 billion, a P/E ratio of 11.48 and a beta of 1.99. The firm’s fifty day moving average price is $12.02 and its 200-day moving average price is $11.02. MRC Global has a 1-year low of $8.15 and a 1-year high of $13.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.48.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.12. The business had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $810.52 million. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The business’s revenue was down 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. On average, sell-side analysts forecast that MRC Global will post 0.97 EPS for the current fiscal year.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.