Roth Mkm Reiterates Buy Rating for Turning Point Brands (NYSE:TPB)

Turning Point Brands (NYSE:TPB)‘s stock had its “buy” rating reissued by equities research analysts at Roth Mkm in a note issued to investors on Friday,Benzinga reports. They presently have a $70.00 price target on the stock. Roth Mkm’s price target indicates a potential upside of 26.90% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Craig Hallum increased their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Benchmark increased their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer began coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Turning Point Brands presently has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Trading Down 2.2 %

Turning Point Brands stock opened at $55.16 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The firm has a 50-day moving average of $58.98 and a 200-day moving average of $46.24. The company has a market cap of $976.17 million, a price-to-earnings ratio of 21.89 and a beta of 0.66. Turning Point Brands has a one year low of $21.98 and a one year high of $66.18.

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

Institutional Trading of Turning Point Brands

Several institutional investors have recently bought and sold shares of the company. Corsair Capital Management L.P. boosted its stake in shares of Turning Point Brands by 49.0% during the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock worth $1,312,000 after acquiring an additional 10,000 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new position in Turning Point Brands during the 3rd quarter valued at about $1,260,000. Federated Hermes Inc. grew its holdings in Turning Point Brands by 245.9% during the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after purchasing an additional 109,983 shares during the last quarter. Millennium Management LLC grew its holdings in Turning Point Brands by 14.1% during the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after purchasing an additional 22,035 shares during the last quarter. Finally, Harspring Capital Management LLC boosted its position in Turning Point Brands by 13.4% in the 2nd quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock valued at $5,824,000 after buying an additional 21,500 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

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.