B.Riley FBR Sticks to Their Hold Rating for Marine Products Corp (MPX)


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 $14.38, close to its 52-week low of $12.48.

Wold said:

“Marine Products Corporation (MPX) is scheduled to report 2Q19 results before the open on Wednesday, 7/24, with a conference call at 8:00am ET. Although we are not concerned with the YTD choppiness in domestic new boat registration data (that, we believe, was due to poor weather adversely impacting dealer traffic, boat deliveries, and boat usage/registrations), we believe that channel inventory levels heading into the quarter were adequate to handle the improving demand trends that, we understand, MPX has recently experienced as well as the expected improvement in demand within Canada following the elimination of the 10% retaliatory tariffs as of the end of April.”

According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.9% and a 33.5% 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 Hold with an average price target of $14.50.

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The company has a one-year high of $24.70 and a one-year low of $12.48. Currently, Marine Products Corp has an average volume of 23.95K.

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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.

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