B.Riley FBR analyst Eric Wold maintained a Hold rating on Marine Products Corp (MPX) today and set a price target of $14.50. The company’s shares closed yesterday at $14.95.
Wold noted:
“Before the open, Corporation (MPX) reported 4Q18 results that came in well below expectations, as the retaliatory tariffs put into place by other countries last year had a significantly greater impact on international sales trends than we had anticipated within our model. While the timing of any retaliatory tariff relief is unknown, we continue to believe these are more short term in nature than long term, but we are taking a more conservative approach to our model in the meantime.”
According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.0% and a 38.6% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on Marine Products Corp is a Moderate Buy with an average price target of $18.50.
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Based on Marine Products Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $4.73 million. In comparison, last year the company had a net profit of $3.26 million.
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Marine Products Corp. engages in the manufacture and market of fiberglass motorized boats and distributed through its independent dealer network. It manufactures Chaparral sterndrive pleasure boats including H2O sport and fish & ski boats, SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex jet boats and Robalo outboard sport fishing boats. The company was founded on February 28, 2001 and is headquartered in Atlanta, GA.
