Turning Point Brands (NYSE:TPB) Receives Buy Rating from Roth Mkm

Turning Point Brands (NYSE:TPB)‘s stock had its “buy” rating reaffirmed by equities researchers at Roth Mkm in a research report issued on Friday,Benzinga reports. They currently have a $70.00 target price on the stock. Roth Mkm’s price objective suggests a potential upside of 26.90% from the company’s current price.

Several other research analysts have also recently commented on TPB. StockNews.com upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Craig Hallum upped 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 report on Thursday, December 5th. Oppenheimer began coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price for the company. Benchmark raised their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Turning Point Brands currently has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Stock Down 2.2 %

NYSE:TPB opened at $55.16 on Friday. The firm has a market capitalization of $976.17 million, a P/E ratio of 21.89 and a beta of 0.66. Turning Point Brands has a 1-year low of $21.98 and a 1-year high of $66.18. The company’s fifty day moving average price is $58.98 and its 200-day moving average price is $46.24. 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 (NYSE:TPB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. As a group, equities research analysts anticipate that Turning Point Brands will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Turning Point Brands

A number of institutional investors have recently made changes to their positions in the stock. First Sabrepoint Capital Management LP bought a new position in Turning Point Brands during the 3rd quarter worth $7,517,000. Federated Hermes Inc. lifted its holdings in Turning Point Brands by 245.9% during the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after buying an additional 109,983 shares during the period. JPMorgan Chase & Co. lifted its holdings in Turning Point Brands by 84.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after buying an additional 56,364 shares during the period. Renaissance Technologies LLC lifted its holdings in Turning Point Brands by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after buying an additional 52,800 shares during the period. Finally, 272 Capital LP acquired a new position in Turning Point Brands during the 3rd quarter worth about $1,488,000. 96.12% of the stock is owned by institutional investors and hedge funds.

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.