Cowen & Co. analyst Marc Bianchi reiterated a Buy rating on MRC Global (MRC) today and set a price target of $23. The company’s shares closed yesterday at $18.84.
According to TipRanks.com, Bianchi has 0 stars on 0-5 star ranking scale with an average return of -13.4% and a 27.4% success rate. Bianchi covers the Basic Materials sector, focusing on stocks such as Covia Holdings Corporation, Propetro Holding Corp, and US Silica Holdings.
MRC Global has an analyst consensus of Moderate Buy, with a price target consensus of $20.50, implying an 8.8% upside from current levels. In a report issued on February 19, Stephens also reiterated a Buy rating on the stock with a $22 price target.
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Based on MRC Global’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.01 billion and net profit of $10 million. In comparison, last year the company earned revenue of $903 million and had a net profit of $35 million.
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MRC Global, Inc. is a holding company which is engaged in the distribution of pipes, valves, fittings, and related products and services to the energy industry. The company operates through the following geographical segments: U.S., Canadian, and International Operations.
