Cowen & Co. Initiates Coverage on MRC Global Inc to Market Perform

Cowen & Co. Initiates Coverage on MRC Global Inc(NYSE:MRC). The shares have been rated Market Perform. The rating by Cowen & Co. was issued on Sep 16, 2016.

In a different note, On Aug 4, 2016, Maxim Group said it Upgrades its rating on MRC Global Inc. The shares have been rated ‘Buy’ by the firm.

MRC Global Inc (MRC) made into the market gainers list on Thursdays trading session with the shares advancing 2.09% or 0.3 points. Due to strong positive momentum, the stock ended at $14.62, which is also near the day’s high of $14.805. The stock began the session at $14.67 and the volume stood at 6,31,989 shares. The 52-week high of the shares is $15.59 and the 52 week low is $8.5. The company has a current market capitalization of $1,409 M and it has 9,63,95,357 shares in outstanding.

MRC Global Inc(MRC) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $746.00M. Analysts had an estimated revenue of $743.63M. Earnings per share were $-0.21. Analysts had estimated an EPS of $-0.14.

Several Insider Transactions has been reported to the SEC. On Aug 24, 2016, Gerard Pieter Krans (director) sold 23,000 shares at $15.33 per share price.Also, On Aug 15, 2016, Daniel J Churay (EVP-Corp Affrs, GC & Corp Sec.) sold 5,350 shares at $14.77 per share price.On May 10, 2016, Karl Witt (SVP Operations East/Gulf Coast) purchased 1,740 shares at $14.15 per share price, according to the Form-4 filing with the securities and exchange commission.

MRC Global Inc. is a global industrial distributor of pipe valves and fittings (PVF) and related products and services to the energy industry. The Company offers products that are used in the construction maintenance repair and overhaul of equipment used in extreme operating conditions such as high pressure high/low temperature and high corrosive and abrasive environments. Its product types include valves automation and instrumentation carbon steel fittings and flanges and stainless steel and alloy pipe and fittings line pipe and oil country tubular goods among others. The Company offers around 230000 stock keeping units including an array of PVF oilfield supply automation instrumentation and other general and specialty industry supply products. The Company operates through its U.S. Canadian and International segments. It has operations in over 400 service locations. It provides services such as product testing volume purchasing and warehousing among others.

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