Turning Point Brands (NYSE:TPB) Downgraded by StockNews.com to “Hold”

Turning Point Brands (NYSE:TPB) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other research firms have also weighed in on TPB. Craig Hallum raised their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Benchmark lifted their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Roth Mkm reiterated a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Oppenheimer began coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $68.75.

Turning Point Brands Trading Down 2.5 %

Shares of Turning Point Brands stock opened at $62.12 on Tuesday. The firm has a market cap of $1.10 billion, a PE ratio of 24.65 and a beta of 0.65. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands has a 1 year low of $21.98 and a 1 year high of $66.18. The company has a 50 day simple moving average of $59.73 and a two-hundred day simple moving average of $48.87.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (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 business had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. During the same period in the previous year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts expect that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Turning Point Brands

Hedge funds have recently modified their holdings of the business. First Sabrepoint Capital Management LP acquired a new stake in Turning Point Brands in the 3rd quarter valued at about $7,517,000. JPMorgan Chase & Co. grew its stake in Turning Point Brands by 84.5% during the 3rd 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 last quarter. 272 Capital LP purchased a new position in Turning Point Brands during the 3rd quarter worth approximately $1,488,000. Pekin Hardy Strauss Inc. purchased a new position in Turning Point Brands during the 3rd quarter worth approximately $1,260,000. Finally, Millennium Management LLC lifted 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 worth $5,724,000 after purchasing an additional 22,035 shares during the period. 96.12% of the stock is currently owned by hedge funds and other 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.