3 Stocks Pushing The Consumer Durables Industry Lower

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The Consumer Durables industry as a whole closed the day down 1.2% versus the S&P 500, which was down 1.6%. Laggards within the Consumer Durables industry included Virco Manufacturing ( VIRC), down 2.6%, Kewaunee Scientific ( KEQU), down 2.0%, Marine Products ( MPX), down 5.7%, Elecsys ( ESYS), down 3.6% and Vapor ( VPCO), down 5.5%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

Marine Products ( MPX) is one of the companies that pushed the Consumer Durables industry lower today. Marine Products was down $0.48 (5.7%) to $7.96 on heavy volume. Throughout the day, 27,970 shares of Marine Products exchanged hands as compared to its average daily volume of 16,000 shares. The stock ranged in price between $7.95-$8.39 after having opened the day at $8.21 as compared to the previous trading day's close of $8.44.

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, sport yacht, and sport fishing markets worldwide. Marine Products has a market cap of $318.3 million and is part of the consumer goods sector. Shares are down 16.0% year-to-date as of the close of trading on Wednesday. Currently there are no analysts who rate Marine Products a buy, no analysts rate it a sell, and 2 rate it a hold.

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TheStreet Ratings rates Marine Products as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, impressive record of earnings per share growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Highlights from TheStreet Ratings analysis on MPX go as follows:

  • MPX's revenue growth has slightly outpaced the industry average of 6.4%. Since the same quarter one year prior, revenues rose by 13.6%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Leisure Equipment & Products industry. The net income increased by 55.7% when compared to the same quarter one year prior, rising from $1.94 million to $3.01 million.
  • MARINE PRODUCTS CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. Stable earnings per share over the past two years indicate the company has sound management over its earnings and share float. We anticipate the company beginning to experience more growth in the coming year. During the past fiscal year, MARINE PRODUCTS CORP's EPS of $0.19 remained unchanged from the prior years' EPS of $0.19. This year, the market expects an improvement in earnings ($0.28 versus $0.19).
  • Net operating cash flow has significantly increased by 68.14% to -$0.38 million when compared to the same quarter last year. Despite an increase in cash flow of 68.14%, MARINE PRODUCTS CORP is still growing at a significantly lower rate than the industry average of 177.27%.
  • MPX has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.97 is somewhat weak and could be cause for future problems.

You can view the full analysis from the report here: Marine Products Ratings Report

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