ValuEngine Lowers Marine Products (NYSE:MPX) to Sell

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Marine Products (NYSE:MPX) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, ValuEngine reports.

A number of other research firms also recently commented on MPX. B. Riley set a $15.00 target price on shares of Marine Products and gave the company a “hold” rating in a research report on Wednesday, April 17th. Ifs Securities reissued an “outperform” rating on shares of Marine Products in a research report on Thursday, April 25th. Finally, Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th.

NYSE MPX opened at $13.87 on Tuesday. The stock has a market cap of $490.72 million, a P/E ratio of 17.33 and a beta of 0.52. The firm’s 50-day simple moving average is $15.33. Marine Products has a one year low of $12.48 and a one year high of $24.82.

Marine Products (NYSE:MPX) last posted its earnings results on Wednesday, April 24th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $83.05 million for the quarter, compared to the consensus estimate of $73.18 million. Marine Products had a net margin of 9.32% and a return on equity of 36.92%. Analysts expect that Marine Products will post 0.81 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of MPX. Dimensional Fund Advisors LP boosted its holdings in shares of Marine Products by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 657,635 shares of the company’s stock valued at $11,121,000 after buying an additional 21,011 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Marine Products by 4.7% in the 4th quarter. BlackRock Inc. now owns 573,276 shares of the company’s stock valued at $9,695,000 after buying an additional 25,861 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Marine Products by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 174,962 shares of the company’s stock valued at $2,959,000 after buying an additional 5,111 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Marine Products by 15.4% in the 4th quarter. Geode Capital Management LLC now owns 69,104 shares of the company’s stock valued at $1,168,000 after buying an additional 9,237 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of Marine Products in the 1st quarter valued at about $884,000. 14.67% of the stock is currently owned by institutional investors and hedge funds.

Marine Products Company Profile

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. The company provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex jet boats and the Surf Series, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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