Loop Capital Markets analyst Chris Dankert reiterated a Buy rating on MRC Global (MRC – Research Report) today and set a price target of $16.00. The company’s shares closed yesterday at $13.85.
Dankert covers the Industrials sector, focusing on stocks such as Fastenal Company, Lincoln Electric Holdings, and MSC Industrial. According to TipRanks, Dankert has an average return of 19.1% and an 80.00% success rate on recommended stocks.
MRC Global has an analyst consensus of Strong Buy, with a price target consensus of $16.00, representing a 15.52% upside. In a report released on May 10, Susquehanna also maintained a Buy rating on the stock with a $16.00 price target.
Based on MRC Global’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $768 million and a net profit of $21 million. In comparison, last year the company earned a revenue of $869 million and had a net profit of $21 million
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MRC Global (MRC) Company Description:
MRC Global, Inc. is a holding company, which engages in the distribution of pipes, valves, fittings, and other infrastructure products and services to the energy industry. Its products include Carbon Steel Pipe, Carbon Steel Fittings & Flanges, Valves, Valve Automation, Stainless & Alloy Pipe, Mill Supplies & Safety and ValveWatch. The company was founded on November 20, 2006 and is headquartered in Houston, TX.
