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 note issued to investors on Tuesday.

TPB has been the subject of several other reports. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 target price for the company. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research report on Thursday. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Craig Hallum raised their price objective on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Oppenheimer assumed 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 objective for the company. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $73.33.

Turning Point Brands Trading Down 4.8 %

NYSE TPB opened at $58.37 on Tuesday. Turning Point Brands has a 52 week low of $26.35 and a 52 week high of $72.54. The company has a 50 day moving average price of $62.87 and a 200 day moving average price of $54.26. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.03 billion, a PE ratio of 23.16 and a beta of 0.75.

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds have recently bought and sold shares of TPB. Virtus Fund Advisers LLC bought a new stake in Turning Point Brands during the fourth quarter worth approximately $48,000. USA Financial Formulas acquired a new stake in Turning Point Brands during the fourth quarter valued at $73,000. Sunbelt Securities Inc. acquired a new position in Turning Point Brands in the 4th quarter worth about $96,000. Tower Research Capital LLC TRC boosted its holdings in Turning Point Brands by 29.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after purchasing an additional 532 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new position in Turning Point Brands during the fourth quarter valued at approximately $201,000. Institutional investors and hedge funds 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.