MRC Global (MRC) : Traders are bullish on MRC Global (MRC) as it has outperformed the S&P 500 by a wide margin of 14.58% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.52%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.49% in the last 1 week, and is up 15.02% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
MRC Global Inc. is up 13.14% in the last 3-month period. Year-to-Date the stock performance stands at 18.14%. The stock has recorded a 20-day Moving Average of 9.25% and the 50-Day Moving Average is 8.7%.
MRC Global (NYSE:MRC): The stock opened at $15.37 on Friday but the bulls could not build on the opening and the stock topped out at $15.39 for the day. The stock traded down to $15.13 during the day, due to lack of any buying support eventually closed down at $15.24 with a loss of -1.23% for the day. The stock had closed at $15.43 on the previous day. The total traded volume was 1,140,077 shares.
Also, Equity analysts at the Brokerage firm Maxim Group upgrades its rating on MRC Global (NYSE:MRC). The rating major has initiated the coverage with buy rating on the shares. Earlier, the shares were rated a Hold by the brokerage firm. The rating by the firm was issued on August 4, 2016.
MRC Global Inc. is a global industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company offers products that are used in the construction, maintenance, repair and overhaul of equipment used in extreme operating conditions, such as high pressure, high/low temperature and high corrosive and abrasive environments. Its product types include valves, automation and instrumentation, carbon steel fittings and flanges and stainless steel and alloy pipe and fittings, line pipe and oil country tubular goods, among others. The Company offers around 230,000 stock keeping units, including an array of PVF, oilfield supply, automation, instrumentation and other general and specialty industry supply products. The Company operates through its U.S., Canadian, and International segments. It has operations in over 400 service locations. It provides services, such as product testing, volume purchasing and warehousing, among others.