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MRC Global Secures PVF Contract Renewal From DCP Midstream
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MRC Global Inc. (MRC - Free Report) recently reinforced its long-term relationship with DCP Midstream Partners, LP , on the back of a five-year pipe, valve and fitting (PVF) contract renewal. The stock remained nearly flat at $18.5 per share as of Jan 18, prior to the newscast.
MRC Global provides PVF services to the DCP Midstream stores located at various locations. Notably, the company caters project PVF requisites of DCP Midstream in more than 30 service locations across North America.
Notably, MRC Global has the appropriate product know-how, location footprint (especially in Denver Basin and Permian Basin) and inventory to support the exact supply-chain goals of DCP Midstream.
As per the contract renewal, MRC Global’s business subsidiary in the United States will supply PVF services and products for another five years. The contract comprises project and maintenance, as well as repair and operations work.
Troubling Factors
Over the last three months, MRC Global’s shares have gained 4.3%, underperforming 21.2% growth recorded by the industry.
Reduced customer spending has been weighing over the top-line performance of the company’s international segment since 2015. Moreover, surge in oil prices is hurting the downstream businesses of this Zacks Rank #4 (Sell) company. Also, headwinds such as unfavorable foreign currency-translation impact, stiff industry rivalry and input price inflation remain key causes of concern.
Applied Industrial Technologies, Inc. (AIT - Free Report) also holds a Zacks Rank of 2. The company generated a positive average earnings surprise of 9.71% during the same time frame.
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Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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MRC Global Secures PVF Contract Renewal From DCP Midstream
MRC Global Inc. (MRC - Free Report) recently reinforced its long-term relationship with DCP Midstream Partners, LP , on the back of a five-year pipe, valve and fitting (PVF) contract renewal. The stock remained nearly flat at $18.5 per share as of Jan 18, prior to the newscast.
MRC Global provides PVF services to the DCP Midstream stores located at various locations. Notably, the company caters project PVF requisites of DCP Midstream in more than 30 service locations across North America.
Notably, MRC Global has the appropriate product know-how, location footprint (especially in Denver Basin and Permian Basin) and inventory to support the exact supply-chain goals of DCP Midstream.
As per the contract renewal, MRC Global’s business subsidiary in the United States will supply PVF services and products for another five years. The contract comprises project and maintenance, as well as repair and operations work.
Troubling Factors
Over the last three months, MRC Global’s shares have gained 4.3%, underperforming 21.2% growth recorded by the industry.
Reduced customer spending has been weighing over the top-line performance of the company’s international segment since 2015. Moreover, surge in oil prices is hurting the downstream businesses of this Zacks Rank #4 (Sell) company. Also, headwinds such as unfavorable foreign currency-translation impact, stiff industry rivalry and input price inflation remain key causes of concern.
Stocks to Consider
Two better-ranked stocks within the Zacks Classified Industrial Products Sector are listed below:
Acco Brands Corporation (ACCO - Free Report) currently carries a Zacks Rank of 2 (Buy). The company has pulled off a positive average earnings surprise of 81.89% in the last four quarters. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Applied Industrial Technologies, Inc. (AIT - Free Report) also holds a Zacks Rank of 2. The company generated a positive average earnings surprise of 9.71% during the same time frame.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>