Turning Point Brands (NYSE:TPB) Raised to Buy at StockNews.com

Turning Point Brands (NYSE:TPB) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Other research analysts have also issued research reports about the company. Benchmark boosted their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Craig Hallum lifted their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Oppenheimer initiated coverage on 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. Roth Mkm reiterated a “buy” rating and set a $70.00 price objective (up from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th. Finally, Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Trading Up 0.1 %

Shares of TPB opened at $60.71 on Friday. The business’s 50-day moving average price is $58.08 and its 200-day moving average price is $45.31. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. Turning Point Brands has a twelve month low of $21.98 and a twelve month high of $66.18. The stock has a market cap of $1.07 billion, a PE ratio of 24.09 and a beta of 0.66.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPB. Corsair Capital Management L.P. grew its holdings in Turning Point Brands by 49.0% in 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. purchased a new stake in Turning Point Brands in the 3rd quarter worth approximately $1,260,000. Federated Hermes Inc. increased its stake in shares of Turning Point Brands by 245.9% during the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after buying an additional 109,983 shares during the period. Millennium Management LLC raised its holdings in shares of Turning Point Brands by 14.1% during the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after acquiring an additional 22,035 shares in the last quarter. Finally, Harspring Capital Management LLC increased its position in Turning Point Brands by 13.4% during the 2nd quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock valued at $5,824,000 after purchasing an additional 21,500 shares during the period. Institutional investors own 96.12% of the company’s stock.

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.