Fintel reports that on October 3, 2023, Loop Capital initiated coverage of MRC Global (NYSE:MRC) with a Buy recommendation.
Analyst Price Forecast Suggests 44.39% Upside
As of August 31, 2023, the average one-year price target for MRC Global is 14.28. The forecasts range from a low of 12.12 to a high of $17.85. The average price target represents an increase of 44.39% from its latest reported closing price of 9.89.
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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 388 funds or institutions reporting positions in MRC Global. This is a decrease of 25 owner(s) or 6.05% in the last quarter. Average portfolio weight of all funds dedicated to MRC is 0.12%, a decrease of 2.05%. Total shares owned by institutions decreased in the last three months by 1.75% to 93,259K shares. 
The put/call ratio of MRC is 0.23, indicating a bullish outlook.
What are Other Shareholders Doing?
Pzena Investment Management holds 7,162K shares representing 8.53% 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 25.50% over the last quarter.
Frontier Capital Management Co holds 5,669K shares representing 6.75% ownership of the company. In it's prior filing, the firm reported owning 5,304K shares, representing an increase of 6.44%. The firm increased its portfolio allocation in MRC by 2.59% over the last quarter.
Fuller & Thaler Asset Management holds 4,221K shares representing 5.02% ownership of the company. In it's prior filing, the firm reported owning 4,223K shares, representing a decrease of 0.05%. The firm increased its portfolio allocation in MRC by 2.02% over the last quarter.
UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 3,439K shares representing 4.09% ownership of the company. In it's prior filing, the firm reported owning 3,420K shares, representing an increase of 0.54%. The firm increased its portfolio allocation in MRC by 5.11% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,579K shares representing 3.07% ownership of the company. No change in 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.
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