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

Turning Point Brands (NYSE:TPB) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other analysts also recently issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $70.00 price objective (up previously from $55.00) on shares of Turning Point Brands in a research note on Tuesday, December 17th. Benchmark raised their price target on 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 raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer initiated coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Craig Hallum boosted their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Stock Performance

NYSE:TPB opened at $59.00 on Thursday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 23.41 and a beta of 0.66. Turning Point Brands has a 1 year low of $21.98 and a 1 year high of $66.18. The stock’s 50 day simple moving average is $55.57 and its two-hundred day simple moving average is $43.90. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

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

Institutional Trading of Turning Point Brands

A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in shares of Turning Point Brands by 5.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 134,855 shares of the company’s stock valued at $4,327,000 after acquiring an additional 6,519 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Turning Point Brands by 8.9% in the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after purchasing an additional 693 shares during the period. Rhumbline Advisers raised its stake in shares of Turning Point Brands by 7.5% in the second quarter. Rhumbline Advisers now owns 25,422 shares of the company’s stock worth $816,000 after purchasing an additional 1,780 shares during the last quarter. LSV Asset Management raised its stake in shares of Turning Point Brands by 8.8% in the second quarter. LSV Asset Management now owns 115,300 shares of the company’s stock worth $3,700,000 after purchasing an additional 9,300 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Turning Point Brands by 245.9% during the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after purchasing an additional 109,983 shares during the period. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.