Turning Point Brands (NYSE:TPB) Upgraded to “Buy” at StockNews.com

Turning Point Brands (NYSE:TPB) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

A number of other equities analysts have also recently commented on the company. Roth Mkm restated a “buy” rating and set a $70.00 target price (up from $55.00) on shares of Turning Point Brands in a report on Tuesday. Craig Hallum raised their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark lifted their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Oppenheimer began coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $68.75.

Turning Point Brands Stock Down 0.3 %

Shares of NYSE:TPB opened at $60.61 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The business has a fifty day moving average of $53.49 and a two-hundred day moving average of $42.77. The stock has a market cap of $1.07 billion, a P/E ratio of 24.05 and a beta of 0.66. Turning Point Brands has a 52-week low of $21.98 and a 52-week high of $66.18.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. On average, research analysts expect that Turning Point Brands will post 2.59 earnings per share for the current year.

Institutional Trading of Turning Point Brands

A number of institutional investors have recently modified their holdings of TPB. Copeland Capital Management LLC purchased a new stake in shares of Turning Point Brands in the third quarter valued at approximately $61,000. SG Americas Securities LLC acquired a new position in shares of Turning Point Brands in the second quarter worth $129,000. The Manufacturers Life Insurance Company acquired a new position in shares of Turning Point Brands in the second quarter worth $209,000. Magnetar Financial LLC acquired a new position in shares of Turning Point Brands in the second quarter worth $212,000. Finally, Aigen Investment Management LP acquired a new position in Turning Point Brands in the third quarter valued at $221,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.