Marine Products price target lowered to $11 from $16 at DA Davidson

DA Davidson lowered the firm’s price target on Marine Products to $11 from $16 and keeps a Neutral rating on the shares. The firm cites the company’s Q3 earnings that came in below expectations as Marine Products indicated that the retail environment hasn’t gotten better or worse over the last 30 days, the analyst tells investors in a research note. DA Davidson further cites Marine Products management indicating that they are being prudent with their production schedules given underlying demand trends.