In a report issued on November 2, Blake Hirschman from Stephens reiterated a Buy rating on MRC Global (MRC), with a price target of $21. The company’s shares closed on Friday at $16.37.
MRC Global has an analyst consensus of Strong Buy, with a price target consensus of $21.75, which is a 32.9% upside from current levels. In a report issued on October 19, Raymond James also maintained a Buy rating on the stock with a $21 price target.
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Based on MRC Global’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.07 billion and net profit of $24 million. In comparison, last year the company earned revenue of $959 million and had a net profit of $3 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.
