After Susquehanna and Northcoast Research gave MRC Global (NYSE: MRC) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Vaibhav Vaishnav reiterated a Buy rating on MRC Global yesterday and set a price target of $24. The company’s shares closed yesterday at $20.50.
Vaishnav has an average return of 15.6% when recommending MRC Global.
According to TipRanks.com, Vaishnav is ranked #860 out of 4848 analysts.
MRC Global has an analyst consensus of Moderate Buy, with a price target consensus of $24, which is a 17.1% upside from current levels. In a report issued on July 31, Northcoast Research also initiated coverage with a Buy rating on the stock with a $26 price target.
.
See today’s analyst top recommended stocks >>
Based on MRC Global’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.08 billion and net profit of $22 million. In comparison, last year the company earned revenue of $922 million and had a net profit of $6 million.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Andrew R. Lane, the President & CEO of MRC sold 226,864 shares for a total of $4,647,309.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
