Turning Point Brands (NYSE:TPB) Stock Rating Upgraded by StockNews.com

Turning Point Brands (NYSE:TPB) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also commented on the stock. Benchmark upped their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company 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 note on Friday, November 8th. Oppenheimer initiated coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. Roth Mkm reissued a “buy” rating and set a $70.00 price target (up previously from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th. Finally, Craig Hallum boosted their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Turning Point Brands presently has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Stock Up 0.9 %

Shares of NYSE TPB opened at $60.65 on Friday. The firm’s 50-day moving average is $57.78 and its 200-day moving average is $45.11. Turning Point Brands has a 1 year low of $21.98 and a 1 year high of $66.18. The firm has a market capitalization of $1.07 billion, a PE ratio of 24.07 and a beta of 0.66. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $105.62 million for 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. Equities analysts expect that Turning Point Brands will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Turning Point Brands

Several large investors have recently added to or reduced their stakes in the company. Copeland Capital Management LLC purchased a new stake in Turning Point Brands during the third quarter valued at about $61,000. The Manufacturers Life Insurance Company bought a new position in shares of Turning Point Brands during the 2nd quarter valued at $209,000. Magnetar Financial LLC purchased a new position in Turning Point Brands in the 2nd quarter worth $212,000. Aigen Investment Management LP bought a new position in shares of Turning Point Brands during the third quarter valued at about $221,000. Finally, Moran Wealth Management LLC bought a new stake in shares of Turning Point Brands in the 3rd quarter valued at about $236,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.