Fintel reports that on August 8, 2023, Stephens & Co. reiterated coverage of MRC Global (NYSE:MRC) with a Overweight recommendation.
Analyst Price Forecast Suggests 60.86% Upside
As of August 2, 2023, the average one-year price target for MRC Global is 14.96. The forecasts range from a low of 12.12 to a high of $17.85. The average price target represents an increase of 60.86% from its latest reported closing price of 9.30.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for MRC Global is 3,768MM, an increase of 6.77%. The projected annual non-GAAP EPS is 1.64.
What is the Fund Sentiment?
There are 409 funds or institutions reporting positions in MRC Global. This is a decrease of 11 owner(s) or 2.62% in the last quarter. Average portfolio weight of all funds dedicated to MRC is 0.13%, a decrease of 19.40%. Total shares owned by institutions decreased in the last three months by 0.46% to 95,219K shares. 
The put/call ratio of MRC is 1.04, indicating a bearish outlook.
What are Other Shareholders Doing?
Pzena Investment Management holds 7,162K shares representing 8.51% ownership of the company. In it's prior filing, the firm reported owning 5,845K shares, representing an increase of 18.39%. The firm increased its portfolio allocation in MRC by 25.00% over the last quarter.
Frontier Capital Management Co holds 5,304K shares representing 6.30% ownership of the company. In it's prior filing, the firm reported owning 4,171K shares, representing an increase of 21.37%. The firm increased its portfolio allocation in MRC by 1.36% over the last quarter.
Fuller & Thaler Asset Management holds 4,223K shares representing 5.01% ownership of the company. In it's prior filing, the firm reported owning 4,231K shares, representing a decrease of 0.20%. The firm decreased its portfolio allocation in MRC by 23.92% over the last quarter.
UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 3,420K shares representing 4.06% ownership of the company. In it's prior filing, the firm reported owning 3,426K shares, representing a decrease of 0.18%. The firm decreased its portfolio allocation in MRC by 18.88% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,579K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 2,582K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in MRC by 22.57% over the last quarter.
MRC Global Background Information
(This description is provided by the company.)
MRC Global is the largest distributor of pipe, valves and fittings (PVF) and other infrastructure products and services to the energy industry, based on sales. Through approximately 230 service locations worldwide, approximately 2,600 employees and with 100 years of history, MRC Global provides innovative supply chain solutions and technical product expertise to customers globally across diversified end-markets including the upstream production, midstream pipeline, gas utility and downstream and industrial. MRC Global manages a complex network of over 200,000 SKUs and over 10,000 suppliers simplifying the supply chain for approximately 12,000 customers. With a focus on technical products, value-added services, a global network of valve and engineering centers and an unmatched quality assurance program, MRC Global is the trusted PVF expert. Find out more at www.mrcglobal.com.
Additional reading:
- Amended and Restated Employment Agreement, dated as of August 4, 2023, between MRC Global Inc. and Robert James Saltiel, Jr.
- Amended and Restated Employment Agreement, dated as of August 4, 2023, between MRC Global Inc. and Kelly Youngblood.
- Executive Separation Policy.
- MRC Global Announces Second Quarter 2023 Results
- Earnings presentation of MRC Global Inc. dated August 7, 2023
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
