Turning Point Brands (NYSE:TPB) Stock Rating Lowered by TheStreet

Turning Point Brands (NYSE:TPBGet Rating) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Thursday, TheStreetRatingsTable reports.

A number of other brokerages have also weighed in on TPB. Zacks Investment Research upgraded Turning Point Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, March 30th. Barclays dropped their target price on shares of Turning Point Brands from $46.00 to $38.00 in a research report on Thursday, February 24th. Craig Hallum decreased their price target on shares of Turning Point Brands from $65.00 to $50.00 in a report on Thursday, April 28th. B. Riley dropped their price objective on shares of Turning Point Brands from $55.00 to $45.00 in a report on Wednesday, January 26th. Finally, StockNews.com assumed coverage on Turning Point Brands in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Turning Point Brands has an average rating of “Buy” and an average target price of $46.25.

Shares of TPB opened at $27.18 on Thursday. The company has a 50 day moving average of $30.88 and a two-hundred day moving average of $34.20. The company has a quick ratio of 2.71, a current ratio of 4.49 and a debt-to-equity ratio of 3.15. Turning Point Brands has a twelve month low of $25.56 and a twelve month high of $54.49. The company has a market cap of $492.94 million, a price-to-earnings ratio of 10.87 and a beta of 0.52.

Turning Point Brands (NYSE:TPBGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.52 by $0.19. Turning Point Brands had a return on equity of 45.02% and a net margin of 11.69%. The firm had revenue of $100.90 million during the quarter, compared to analyst estimates of $102.09 million. During the same quarter in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, sell-side analysts expect that Turning Point Brands will post 2.84 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its position in Turning Point Brands by 154.2% during the first quarter. BNP Paribas Arbitrage SA now owns 14,739 shares of the company’s stock valued at $501,000 after acquiring an additional 8,941 shares in the last quarter. Avalon Investment & Advisory increased its holdings in shares of Turning Point Brands by 13.7% during the 1st quarter. Avalon Investment & Advisory now owns 100,564 shares of the company’s stock valued at $3,420,000 after purchasing an additional 12,143 shares in the last quarter. Penn Capital Management Company LLC lifted its stake in shares of Turning Point Brands by 84.3% in the 1st quarter. Penn Capital Management Company LLC now owns 64,073 shares of the company’s stock valued at $2,070,000 after purchasing an additional 29,306 shares during the period. Quantbot Technologies LP purchased a new stake in Turning Point Brands during the first quarter worth $375,000. Finally, Goldman Sachs Group Inc. grew its position in Turning Point Brands by 86.3% during the first quarter. Goldman Sachs Group Inc. now owns 48,469 shares of the company’s stock valued at $1,649,000 after buying an additional 22,456 shares during the period. 82.81% of the stock is currently owned by institutional investors.

Turning Point Brands Company Profile (Get Rating)

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 NewGen Products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products under the Zig-Zag brand.

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