Turning Point Brands (NYSE:TPB) Downgraded by StockNews.com

Turning Point Brands (NYSE:TPB) 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.

Turning Point Brands Trading Down 0.9 %

NYSE:TPB opened at $44.63 on Thursday. The stock’s 50 day moving average price is $40.87 and its 200 day moving average price is $35.73. Turning Point Brands has a 52 week low of $19.67 and a 52 week high of $45.33. The company has a market capitalization of $790.40 million, a P/E ratio of 18.44 and a beta of 0.63. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80.

Turning Point Brands (NYSE:TPB) 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.