Brokerages Set $21.25 Price Target for Marine Products Corp. (MPX)
Shares of Marine Products Corp. (NYSE:MPX) have earned a consensus broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has issued a buy rating on the company.
Brokers have set a twelve-month consensus target price of $21.25 for the company and are anticipating that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also given Marine Products an industry rank of 102 out of 256 based on the ratings given to its competitors.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Marine Products from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research report on Thursday, October 18th. B. Riley lifted their price target on shares of Marine Products from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, October 25th. Finally, ValuEngine cut shares of Marine Products from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th.
Marine Products (NYSE:MPX) last issued its earnings results on Wednesday, October 24th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Marine Products had a net margin of 8.97% and a return on equity of 38.58%. The company had revenue of $72.01 million for the quarter, compared to the consensus estimate of $67.66 million. As a group, equities analysts predict that Marine Products will post 0.88 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Marine Products by 10.1% in the second quarter. BlackRock Inc. now owns 546,999 shares of the company’s stock valued at $9,726,000 after purchasing an additional 50,257 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Marine Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 627,472 shares of the company’s stock valued at $11,157,000 after purchasing an additional 9,353 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Marine Products by 8.6% in the second quarter. Renaissance Technologies LLC now owns 234,933 shares of the company’s stock valued at $4,177,000 after purchasing an additional 18,633 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Marine Products by 508.3% in the second quarter. Macquarie Group Ltd. now owns 7,300 shares of the company’s stock valued at $130,000 after purchasing an additional 6,100 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Marine Products by 70.1% in the third quarter. Acadian Asset Management LLC now owns 19,311 shares of the company’s stock valued at $442,000 after purchasing an additional 7,956 shares in the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.
About Marine Products
Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. It provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex Jet Boats, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.
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