MRC Global Inc (MRC) is Initiated by Cowen to Market Perform, Price Target at $16

MRC Global Inc (MRC) was Initiated by Cowen to “Market Perform” and the brokerage firm has set the Price Target at $16. Cowen advised their investors in a research report released on Sep 16, 2016.

Many Wall Street Analysts have commented on MRC Global Inc. Maxim Group Upgraded MRC Global Inc on Aug 4, 2016 to ” Buy”, Price Target of the shares are set at $16.MRC Global Inc was Upgraded by CapitalOne to ” Overweight” on Aug 3, 2016.

On the company’s financial health, MRC Global Inc reported $-0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.14. The company had revenue of $746.00 million for the quarter, compared to analysts expectations of $742.77 million. The company’s revenue was down -37.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

MRC Global Inc closed down -0.1 points or -0.70% at $14.14 with 637,231 shares getting traded on Wednesday. Post opening the session at $14.26, the shares hit an intraday low of $13.96 and an intraday high of $14.34 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Aug 24, 2016, Gerard Pieter Krans (director) sold 23,000 shares at $15.33 per share price. According to the SEC, on Aug 15, 2016, Daniel J Churay (EVP-Corp Affrs, GC & Corp Sec.) sold 5,350 shares at $14.77 per share price. On May 10, 2016, Karl Witt (SVP Operations East/Gulf Coast) purchased 1,740 shares at $14.15 per share price, according to the Form-4 filing with the securities and exchange commission.

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 230000 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.

MRC Global Inc

Leave a Reply

MRC Global Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on MRC Global Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.