Marine Products (NYSE:MPX) Rating Increased to Buy at StockNews.com

Marine Products (NYSE:MPX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Marine Products Price Performance

NYSE:MPX opened at $9.07 on Thursday. The stock has a market cap of $314.89 million, a P/E ratio of 17.12 and a beta of 1.23. Marine Products has a one year low of $8.67 and a one year high of $12.47. The company has a fifty day moving average price of $9.47 and a 200 day moving average price of $9.57.

Marine Products (NYSE:MPX) last released its earnings results on Thursday, October 24th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. The firm had revenue of $49.85 million during the quarter. During the same quarter in the previous year, the company earned $0.30 earnings per share. As a group, equities research analysts anticipate that Marine Products will post 0.4 EPS for the current year.

Hedge Funds Weigh In On Marine Products

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its stake in shares of Marine Products by 661.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock valued at $199,000 after buying an additional 17,831 shares in the last quarter. De Lisle Partners LLP raised its stake in shares of Marine Products by 44.8% in the 3rd quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock valued at $2,901,000 after buying an additional 92,181 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Marine Products by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock valued at $2,333,000 after buying an additional 8,527 shares in the last quarter. FMR LLC raised its stake in shares of Marine Products by 198.2% in the 3rd quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after buying an additional 5,552 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Marine Products by 173.0% in the 3rd quarter. Barclays PLC now owns 12,050 shares of the company’s stock worth $116,000 after purchasing an additional 7,636 shares during the last quarter. Institutional investors and hedge funds own 13.86% of the company’s stock.

Marine Products Company Profile

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets worldwide. The company offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats, which include OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.