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

Turning Point Brands (NYSE:TPB) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Several other equities analysts have also recently weighed in on the company. Benchmark lifted their target price on 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 Mkm reaffirmed a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Craig Hallum increased their target price on shares of 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 upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Alliance Global Partners assumed coverage on Turning Point Brands in a report on Monday. They set a “buy” rating and a $80.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $71.00.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $67.00 on Monday. Turning Point Brands has a 12 month low of $25.81 and a 12 month high of $72.54. 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 stock has a market cap of $1.19 billion, a PE ratio of 26.59 and a beta of 0.74. The business has a fifty day simple moving average of $62.66 and a 200-day simple moving average of $53.62.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TPB. Virtus Fund Advisers LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at $48,000. USA Financial Formulas acquired a new stake in shares of Turning Point Brands in the fourth quarter worth about $73,000. Sunbelt Securities Inc. bought a new stake in shares of Turning Point Brands during the 4th quarter worth about $96,000. Tower Research Capital LLC TRC increased its holdings in shares of Turning Point Brands by 29.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock valued at $142,000 after acquiring an additional 532 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of Turning Point Brands in the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds 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.