Live Price Coverage: It Seems Marine Products Corp. Will Go Up. Just Reaches 52-Week High

Live Price Coverage: It Seems Marine Products Corp. Will Go Up. Just Reaches 52 Week High

The stock of Marine Products Corp. (NYSE:MPX) hit a new 52-week high and has $12.59 target or 7.00% above today’s $11.77 share price. The 5 months bullish chart indicates low risk for the $462.42M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $12.59 price target is reached, the company will be worth $32.37M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 44,983 shares traded hands. Marine Products Corp. (NYSE:MPX) has risen 35.20% since April 25, 2016 and is uptrending. It has outperformed by 29.18% the S&P500.

Analysts await Marine Products Corp. (NYSE:MPX) to report earnings on January, 25. They expect $0.16 earnings per share, up 60.00% or $0.06 from last year’s $0.1 per share. MPX’s profit will be $6.29 million for 18.39 P/E if the $0.16 EPS becomes a reality. After $0.11 actual earnings per share reported by Marine Products Corp. for the previous quarter, Wall Street now forecasts 45.45% EPS growth.

According to Zacks Investment Research, “MARINE PRODUCTS is the third-largest distributor of sterndrive powerboats in the U.S. The company designs, manufactures and distributes premium-branded Chaparral sterndrive pleasure boats and Robalo outboard offshore fishing boats, and continues to diversify its product line through product innovation and strategic acquisition. With premium brands and a solid capital structure, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build long-term shareholder value.”

Insitutional Activity: The institutional sentiment decreased to 1.5 in 2016 Q2. Its down 0.17, from 1.67 in 2016Q1. The ratio turned negative, as 4 funds sold all Marine Products Corp. shares owned while 11 reduced positions. 3 funds bought stakes while 22 increased positions. They now own 7.76 million shares or 1.38% less from 7.87 million shares in 2016Q1.
Blackrock Japan has 1,817 shares for 0% of their US portfolio. Synovus Corporation owns 225,573 shares or 0.04% of their US portfolio. California Pub Employees Retirement System holds 0% of its portfolio in Marine Products Corp. (NYSE:MPX) for 93,400 shares. Moreover, Panagora Asset has 0% invested in Marine Products Corp. (NYSE:MPX) for 4,911 shares. The California-based Schwab Charles Inv Management Incorporated has invested 0% in Marine Products Corp. (NYSE:MPX). The New York-based Morgan Stanley has invested 0% in Marine Products Corp. (NYSE:MPX). Renaissance Technology Ltd Liability Corporation has 96,700 shares for 0% of their US portfolio. Tiaa Cref Mngmt Ltd Limited Liability Company holds 0% or 33,493 shares in its portfolio. Teachers Advsr Incorporated has 0% invested in the company for 16,320 shares. New York State Teachers Retirement Systems holds 0% or 900 shares in its portfolio. Us Bancorp De accumulated 340 shares or 0% of the stock. Moreover, Gamco Inc Et Al has 0.13% invested in Marine Products Corp. (NYSE:MPX) for 2.28 million shares. Strs Ohio reported 1,300 shares or 0% of all its holdings. Nationwide Fund Advisors holds 0% of its portfolio in Marine Products Corp. (NYSE:MPX) for 7,449 shares. Moreover, Federated Investors Inc Pa has 0% invested in Marine Products Corp. (NYSE:MPX) for 359 shares.

More notable recent Marine Products Corp. (NYSE:MPX) news were published by: Prnewswire.com which released: “Marine Products Corporation Announces Final Results of Tender Offer” on November 14, 2016, also Prnewswire.com with their article: “Marine Products Corporation Announces Tender Offer” published on August 17, 2016, Prnewswire.com published: “Marine Products Corporation Reports Third Quarter 2016 Financial Results” on October 26, 2016. More interesting news about Marine Products Corp. (NYSE:MPX) were released by: Prnewswire.com and their article: “Marine Products Corporation Announces Management Restructuring” published on May 04, 2016 as well as Prnewswire.com‘s news article titled: “Marine Products Corporation Announces Tender Offer Proration Results” with publication date: November 18, 2016.

MPX Company Profile

Marine Products Corporation (MPC), incorporated on August 31, 2000, is engaged in manufacturing powerboats and providing related services and products. The Firm makes fiberglass motorized boats distributed and marketed through its independent dealer network. The Firm 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. MPC designs, makes and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, sport yacht, jet boat and sport fishing markets. The Firm sells its products to a network of approximately 150 domestic and over 85 international independent authorized dealers.

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