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.

Other equities analysts have also recently issued reports about the company. 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 note on Tuesday, November 12th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Oppenheimer began coverage on shares of 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. Roth Mkm reiterated a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, Craig Hallum upped their price objective 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. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Performance

Turning Point Brands stock opened at $56.31 on Tuesday. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. 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 company has a market capitalization of $996.52 million, a price-to-earnings ratio of 22.35 and a beta of 0.66. The firm’s fifty day moving average price is $59.38 and its 200 day moving average price is $46.74.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. On average, research analysts forecast that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors have recently modified their holdings of the business. USA Financial Formulas acquired a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $73,000. JPMorgan Chase & Co. increased its position in Turning Point Brands by 84.5% in the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after buying an additional 56,364 shares during the period. 272 Capital LP bought a new stake in Turning Point Brands in the third quarter valued at $1,488,000. Barclays PLC boosted its holdings in shares of Turning Point Brands by 298.6% during the third quarter. Barclays PLC now owns 29,274 shares of the company’s stock valued at $1,262,000 after acquiring an additional 21,930 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after acquiring an additional 15,344 shares during the last quarter. 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.