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

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

A number of other analysts have also weighed in on the stock. Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer initiated coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price for the company. Craig Hallum upped their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Roth Mkm reiterated a “buy” rating and issued a $70.00 price objective (up from $55.00) on shares of Turning Point Brands in a report on Tuesday, December 17th. Finally, Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Trading Up 0.9 %

TPB opened at $60.65 on Friday. The stock has a market cap of $1.07 billion, a PE ratio of 24.07 and a beta of 0.66. The business has a 50 day moving average of $57.78 and a 200-day moving average of $45.11. Turning Point Brands has a 52 week low of $21.98 and a 52 week high of $66.18. 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 (NYSE:TPB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping 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 33.14%. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Turning Point Brands’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Turning Point Brands by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock valued at $14,785,000 after buying an additional 4,600 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after acquiring an additional 15,344 shares during the last quarter. Renaissance Technologies LLC increased its stake in Turning Point Brands by 21.1% during the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after acquiring an additional 52,800 shares during the last quarter. Aristides Capital LLC lifted its stake in shares of Turning Point Brands by 6.3% in the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after purchasing an additional 12,041 shares during the last quarter. Finally, Harspring Capital Management LLC boosted its holdings in shares of Turning Point Brands by 13.4% in the 2nd quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock worth $5,824,000 after purchasing an additional 21,500 shares during the period. 96.12% of the stock is owned by institutional investors.

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.