Stifel Nicolaus analyst Nathan Jones reiterated a Buy rating on MRC Global (NYSE: MRC) yesterday and set a price target of $24. The company’s shares closed yesterday at $21.97, close to its 52-week high of $22.98.
According to TipRanks.com, Jones is a 4-star analyst with an average return of 8.9% and a 61.6% success rate. Jones covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Illinois Tool Works, and Sun Hydraulics Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MRC Global with a $24 average price target, representing a 9.2% upside. In a report issued on July 31, Northcoast Research also initiated coverage with a Buy rating on the stock with a $26 price target.
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The company has a one-year high of $22.98 and a one-year low of $14.01. Currently, MRC Global has an average volume of 796.4K.
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.
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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.
