Turning Point Brands (NYSE:TPB) Raised to “Buy” at StockNews.com

Turning Point Brands (NYSE:TPB) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

TPB has been the topic of several other reports. Roth Mkm reiterated a “buy” rating and issued a $70.00 target price (up from $55.00) on shares of Turning Point Brands in a research note on Tuesday. Oppenheimer started 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. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark lifted their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Craig Hallum increased their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $68.75.

Turning Point Brands Stock Down 0.8 %

TPB stock opened at $58.72 on Wednesday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 23.30 and a beta of 0.66. The company has a fifty day moving average price of $54.58 and a 200 day moving average price of $43.19. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands has a 12 month low of $21.98 and a 12 month high of $66.18.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same period in the prior year, the company earned $0.69 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts expect that Turning Point Brands will post 2.59 earnings per share for the current year.

Institutional Trading of Turning Point Brands

A number of institutional investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC purchased a new position in Turning Point Brands in the third quarter valued at about $61,000. SG Americas Securities LLC purchased a new position in Turning Point Brands in the 2nd quarter valued at approximately $129,000. Aigen Investment Management LP purchased a new position in Turning Point Brands in the 3rd quarter valued at approximately $221,000. Moran Wealth Management LLC acquired a new position in Turning Point Brands during the third quarter worth $236,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Turning Point Brands during the second quarter worth $209,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

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.