In a report issued on July 9, Charles Minervino from Susquehanna reiterated a Buy rating on MRC Global (NYSE: MRC), with a price target of $26. The company’s shares closed yesterday at $22.60, close to its 52-week high of $22.98.
According to TipRanks.com, Minervino has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.6% and a 36.3% success rate. Minervino covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oil States International.
MRC Global has an analyst consensus of Moderate Buy, with a price target consensus of $23.50.
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Based on MRC Global’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.01 billion and net profit of $18 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.
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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.
