In a report issued on November 1, Nathan Jones from Stifel Nicolaus reiterated a Buy rating on MRC Global (MRC), with a price target of $21. The company’s shares closed on Friday at $16.37.
According to TipRanks.com, Jones is a 4-star analyst with an average return of 4.4% and a 53.2% success rate. Jones covers the Industrial Goods sector, focusing on stocks such as Gardner Denver Holdings Inc, Illinois Tool Works, and Parker Hannifin.
Currently, the analyst consensus on MRC Global is a Strong Buy with an average price target 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.
