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

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

A number of other brokerages also recently commented on TPB. Oppenheimer started coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. Benchmark upped their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Roth Mkm restated a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, Craig Hallum raised their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Trading Down 2.5 %

NYSE TPB opened at $62.12 on Tuesday. The company has a fifty day simple moving average of $59.73 and a two-hundred day simple moving average of $48.87. The stock has a market cap of $1.10 billion, a P/E ratio of 24.65 and a beta of 0.65. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. 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 issued its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm 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 firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. On average, analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current year.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Turning Point Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after buying an additional 15,344 shares during the period. Millennium Management LLC boosted its holdings in shares of Turning Point Brands by 14.1% during the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after buying an additional 22,035 shares during the period. First Sabrepoint Capital Management LP acquired a new stake in Turning Point Brands in the 3rd quarter worth about $7,517,000. Charles Schwab Investment Management Inc. raised its stake in Turning Point Brands by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock worth $6,269,000 after purchasing an additional 2,442 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock valued at $5,311,000 after buying an additional 56,364 shares in the last quarter. 96.12% of the stock is owned by 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.