Turning Point Brands (NYSE:TPB) Stock Rating Lowered by StockNews.com

Turning Point Brands (NYSE:TPB) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Other analysts also recently issued research reports about the stock. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Thursday. Roth Mkm began coverage on Turning Point Brands in a research report on Thursday. They set a “buy” rating and a $50.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a report on Friday, August 2nd.

Turning Point Brands Stock Up 0.4 %

Shares of Turning Point Brands stock traded up $0.18 during trading hours on Friday, reaching $41.90. 443,998 shares of the company were exchanged, compared to its average volume of 115,968. The firm has a market cap of $742.05 million, a PE ratio of 18.46 and a beta of 0.62. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. Turning Point Brands has a 1 year low of $19.67 and a 1 year high of $42.32. The stock’s fifty day moving average is $38.43 and its 200 day moving average is $33.40.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The firm had revenue of $108.51 million for the quarter.

Insider Transactions at Turning Point Brands

In other 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 transaction, the director now directly owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in shares of Turning Point Brands during the 1st quarter valued at about $48,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Turning Point Brands in the first quarter worth about $64,000. Quest Partners LLC acquired a new position in shares of Turning Point Brands in the 4th quarter valued at approximately $65,000. SG Americas Securities LLC acquired a new stake in Turning Point Brands in the second quarter valued at $129,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Turning Point Brands during the second quarter worth about $209,000. 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.