Turning Point Brands (NYSE:TPB) Rating Increased 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 note issued on Monday.

Several other research analysts have also commented on TPB. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Oppenheimer began coverage on Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective for the company. Craig Hallum upped their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Roth Mkm reissued a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $68.75.

Turning Point Brands Stock Down 0.7 %

Shares of NYSE TPB opened at $60.05 on Monday. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. The stock’s fifty day simple moving average is $59.73 and its two-hundred day simple moving average is $48.34. The stock has a market capitalization of $1.06 billion, a PE ratio of 23.83 and a beta of 0.66. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, analysts expect that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TPB. Entropy Technologies LP purchased a new stake in Turning Point Brands in the fourth quarter valued at approximately $234,000. Linden Thomas Advisory Services LLC boosted its holdings in shares of Turning Point Brands by 22.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 26,757 shares of the company’s stock valued at $1,608,000 after acquiring an additional 4,967 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Turning Point Brands in the 4th quarter valued at $73,000. JPMorgan Chase & Co. increased its stake in shares of Turning Point Brands by 84.5% in the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after acquiring an additional 56,364 shares during the period. Finally, 272 Capital LP purchased a new position in shares of Turning Point Brands during the third quarter worth $1,488,000. 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.