Turning Point Brands (NYSE:TPB – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.
Several other research firms have also weighed in on TPB. Roth Mkm restated a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Benchmark increased their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Oppenheimer initiated coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, Craig Hallum raised their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $68.75.
Read Our Latest Analysis on TPB
Turning Point Brands Stock Performance
Turning Point Brands (NYSE:TPB – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $105.62 million during 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 revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. On average, analysts expect that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Turning Point Brands
Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake 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 valued at $14,785,000 after acquiring an additional 4,600 shares in the last quarter. Marshall Wace LLP raised its position in Turning Point Brands by 0.3% during the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock valued at $3,849,000 after purchasing an additional 367 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Turning Point Brands by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock worth $1,311,000 after buying an additional 10,033 shares during the period. Millennium Management LLC grew its position in shares of Turning Point Brands by 14.1% during the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after buying an additional 22,035 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands during the second quarter valued at $209,000. 96.12% of the stock is 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.
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