Weiss Ratings Reaffirms Buy (B) Rating for Turning Point Brands (NYSE:TPB)

Turning Point Brands (NYSE:TPB)‘s stock had its “buy (b)” rating reissued by investment analysts at Weiss Ratings in a research note issued to investors on Thursday,Weiss Ratings reports.

Several other research analysts have also commented on the stock. Wall Street Zen lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research lowered shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Oppenheimer raised their target price on Turning Point Brands from $85.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Needham & Company LLC began coverage on Turning Point Brands in a report on Friday, August 1st. They set a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.83.

Turning Point Brands Price Performance

TPB opened at $89.90 on Thursday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 37.62 and a beta of 0.74. Turning Point Brands has a 1 year low of $46.35 and a 1 year high of $104.76. The company has a current ratio of 4.22, a quick ratio of 2.67 and a debt-to-equity ratio of 1.30. The stock has a fifty day moving average price of $95.08 and a 200 day moving average price of $82.50.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.79 by $0.19. The business had revenue of $116.63 million during the quarter, compared to analysts’ expectations of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. Analysts forecast that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Turning Point Brands by 72.1% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 58,377 shares of the company’s stock valued at $5,771,000 after buying an additional 24,460 shares during the period. Vest Financial LLC acquired a new stake in Turning Point Brands during the 3rd quarter valued at $1,419,000. GatePass Capital LLC acquired a new stake in Turning Point Brands during the 3rd quarter valued at $1,119,000. Ritholtz Wealth Management increased its holdings in Turning Point Brands by 7.4% during the 3rd quarter. Ritholtz Wealth Management now owns 25,331 shares of the company’s stock valued at $2,504,000 after purchasing an additional 1,752 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in Turning Point Brands during the 3rd quarter valued at $25,000. 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.