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 note issued on Wednesday.

A number of other research firms have also recently commented on TPB. Craig Hallum upped their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Roth Mkm restated a “buy” rating and set a $70.00 target price (up previously from $55.00) on shares of Turning Point Brands in a research note on Tuesday. Benchmark raised their target price 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. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer assumed coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Performance

Shares of TPB opened at $60.61 on Wednesday. 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 business’s 50 day moving average price is $53.49 and its 200-day moving average price is $42.77. Turning Point Brands has a 52 week low of $21.98 and a 52 week high of $66.18. The stock has a market cap of $1.07 billion, a P/E ratio of 24.05 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. During the same period last year, the business posted $0.69 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Institutional Trading of Turning Point Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Copeland Capital Management LLC bought a new stake in shares of Turning Point Brands in the third quarter valued at about $61,000. SG Americas Securities LLC purchased a new stake in Turning Point Brands in the 2nd quarter worth approximately $129,000. The Manufacturers Life Insurance Company purchased a new stake in Turning Point Brands in the 2nd quarter worth approximately $209,000. Magnetar Financial LLC purchased a new stake in Turning Point Brands in the 2nd quarter worth approximately $212,000. Finally, Aigen Investment Management LP acquired a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $221,000. 96.12% of the stock is currently owned by institutional investors.

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.