Turning Point Brands (NYSE:TPB) Downgraded by StockNews.com

Turning Point Brands (NYSE:TPB) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Other equities analysts have also issued research reports about the stock. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th. Benchmark restated a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a research report on Friday, August 2nd. Finally, Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price target for the company.

Turning Point Brands Trading Down 0.9 %

TPB opened at $44.63 on Thursday. The stock has a market capitalization of $790.40 million, a PE ratio of 18.44 and a beta of 0.63. The firm’s fifty day moving average price is $40.87 and its 200 day moving average price is $35.73. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. Turning Point Brands has a 12-month low of $19.67 and a 12-month high of $45.33.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The firm had revenue of $108.51 million during the quarter. As a group, research analysts expect that Turning Point Brands will post 2.68 EPS for the current fiscal year.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were 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 directly owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.20% of the company’s stock.

Institutional Trading of Turning Point Brands

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Turning Point Brands by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock valued at $14,785,000 after purchasing an additional 4,600 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Turning Point Brands by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after purchasing an additional 52,800 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Turning Point Brands by 45.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after purchasing an additional 79,489 shares during the period. Finally, Aristides Capital LLC increased its holdings in shares of Turning Point Brands by 6.3% in the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after purchasing an additional 12,041 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

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.