Equities research analysts at Roth Mkm assumed coverage on shares of Turning Point Brands (NYSE:TPB – Get Free Report) in a research note issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $50.00 price target on the stock. Roth Mkm’s target price would suggest a potential upside of 28.14% from the stock’s previous close.
Separately, Benchmark reiterated a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a report on Friday, August 2nd.
Check Out Our Latest Stock Analysis on TPB
Turning Point Brands Trading Up 0.9 %
Turning Point Brands (NYSE:TPB – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The firm had revenue of $108.51 million during the quarter.
Insider Buying and Selling
In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.20% of the company’s stock.
Institutional Trading of Turning Point Brands
A number of institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in Turning Point Brands during the first quarter valued at approximately $1,587,000. Harspring Capital Management LLC acquired a new position in shares of Turning Point Brands during the 4th quarter valued at $2,101,000. Lord Abbett & CO. LLC boosted its position in Turning Point Brands by 45.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after purchasing an additional 79,489 shares during the period. Boston Partners purchased a new stake in Turning Point Brands during the 1st quarter worth $964,000. Finally, Tidal Investments LLC acquired a new stake in Turning Point Brands in the 1st quarter valued at $1,661,000. 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.
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