Turning Point Brands (NYSE:TPB – Get Free Report) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
Several other equities analysts also recently commented on the company. Roth Mkm assumed coverage on Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 price target on the stock. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Benchmark reiterated a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd.
View Our Latest Stock Analysis on TPB
Turning Point Brands Trading Down 0.9 %
Turning Point Brands (NYSE:TPB – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The firm had revenue of $108.51 million for the quarter. On average, research analysts forecast that Turning Point Brands will post 2.68 EPS for the current fiscal year.
Insider Activity
In other news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the sale, the director now directly owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in Turning Point Brands in the first quarter worth $48,000. Copeland Capital Management LLC bought a new position in Turning Point Brands in the third quarter worth $61,000. Allspring Global Investments Holdings LLC bought a new position in Turning Point Brands in the first quarter worth $64,000. SG Americas Securities LLC bought a new position in Turning Point Brands in the second quarter worth $129,000. Finally, The Manufacturers Life Insurance Company bought a new position in Turning Point Brands in the second quarter worth $209,000. 96.12% of the stock is owned by institutional investors.
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.
Featured Stories
- Five stocks we like better than Turning Point Brands
- What is the NASDAQ Stock Exchange?
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- Golden Cross Stocks: Pattern, Examples and Charts
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
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.