Turning Point Brands (NYSE:TPB – Get Free Report) had its target price hoisted by research analysts at Benchmark from $45.00 to $65.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective would suggest a potential upside of 23.74% from the stock’s current price.
Several other brokerages also recently weighed in on TPB. Roth Mkm initiated coverage on Turning Point Brands in a research note on Thursday, September 19th. They set a “buy” rating and a $50.00 target price for the company. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday. Finally, StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th.
Get Our Latest Stock Analysis on Turning Point Brands
Turning Point Brands Stock Up 1.6 %
Turning Point Brands (NYSE:TPB – Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 34.39%. The business had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. During the same period in the prior year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Turning Point Brands will post 2.68 EPS for the current fiscal year.
Insider Transactions at Turning Point Brands
In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the sale, the director now owns 46,544 shares in the company, valued at $1,834,764.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.20% of the company’s stock.
Institutional Trading of Turning Point Brands
Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Turning Point Brands in the 1st quarter worth about $64,000. BNP Paribas Financial Markets grew its position in shares of Turning Point Brands by 6.8% during the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock valued at $532,000 after buying an additional 1,159 shares during the last quarter. Sei Investments Co. raised its stake in Turning Point Brands by 6.1% during the first quarter. Sei Investments Co. now owns 111,958 shares of the company’s stock worth $3,280,000 after acquiring an additional 6,470 shares during the period. Lord Abbett & CO. LLC lifted its holdings in Turning Point Brands by 45.2% in the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after acquiring an additional 79,489 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Turning Point Brands by 6.6% in the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after acquiring an additional 92,147 shares during the period. 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.
See Also
- Five stocks we like better than Turning Point Brands
- The 3 Best Blue-Chip Stocks to Buy Now
- Is Tesla’s Valuation a Bubble or Backed by Real Growth?
- Short Selling: How to Short a Stock
- Trucking Stocks Led the Pack Last Week: Can They Keep Rolling?
- Canadian Penny Stocks: Can They Make You Rich?
- These 3 Active ETFs Beat the S&P 500 Over the Last Five Years
Receive News & Ratings for Turning Point Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Brands and related companies with MarketBeat.com's FREE daily email newsletter.