Marine Products Corp. (MPX) Shares Gap Up to $9.09
Marine Products Corp. (NYSE:MPX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $9.08, but opened at $9.09. Marine Products Corp. shares last traded at $9.21, with a volume of 21,809 shares.
A number of brokerages have commented on MPX. B. Riley cut shares of Marine Products Corp. from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $8.50 to $9.00 in a research note on Thursday, April 28th. Zacks Investment Research raised shares of Marine Products Corp. from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research note on Friday, April 22nd.
The company has a 50-day moving average price of $8.55 and a 200-day moving average price of $7.68. The stock has a market capitalization of $355.70 million and a PE ratio of 22.67.
Marine Products Corp. (NYSE:MPX) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $0.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.10. The company had revenue of $63.67 million for the quarter, compared to analyst estimates of $53.69 million. Equities analysts predict that Marine Products Corp. will post $0.46 earnings per share for the current year.
A hedge fund recently raised its stake in Marine Products Corp. stock. Dimensional Fund Advisors LP increased its position in Marine Products Corp. (NYSE:MPX) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 898,874 shares of the company’s stock after buying an additional 3,042 shares during the period. Dimensional Fund Advisors LP owned approximately 2.44% of Marine Products Corp. worth $5,429,000 as of its most recent SEC filing.
Marine Products Corporation (MPC) is engaged in manufacturing powerboats and providing related products and services. The Company manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. The Company operates in Powerboat Manufacturing business segment. The Company’s product offerings include Chaparral sterndrive, outboard and jet pleasure boats, and Robalo outboard sport fishing boats.
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