Benchmark Forecasts Strong Price Appreciation for Turning Point Brands (NYSE:TPB) Stock

Turning Point Brands (NYSE:TPB) had its price target raised by Benchmark from $45.00 to $65.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 18.18% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Roth Mkm began coverage on Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 price target for the company. Finally, Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th.

Turning Point Brands Stock Performance

TPB opened at $55.00 on Tuesday. The business’s 50-day simple moving average is $43.51 and its 200 day simple moving average is $37.90. Turning Point Brands has a 52-week low of $21.66 and a 52-week high of $55.75. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.17 and a current ratio of 4.21. The firm has a market capitalization of $973.34 million, a PE ratio of 21.83 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $105.62 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. As a group, sell-side analysts expect that Turning Point Brands will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of large investors have recently made changes to their positions in TPB. Vanguard Group Inc. increased its position in Turning Point Brands by 6.6% during the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after acquiring an additional 92,147 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Turning Point Brands by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock worth $14,785,000 after purchasing an additional 4,600 shares during the period. Renaissance Technologies LLC raised its position in shares of Turning Point Brands by 21.1% in the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after buying an additional 52,800 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Turning Point Brands by 45.2% in the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after buying an additional 79,489 shares during the period. Finally, Aristides Capital LLC grew its position in Turning Point Brands by 6.3% during the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock worth $6,514,000 after buying an additional 12,041 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

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.