Turning Point Brands (NYSE:TPB) Stock Rating Upgraded by StockNews.com

Turning Point Brands (NYSE:TPB) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

Other research analysts have also issued reports about the company. Roth Mkm started coverage on Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price on the stock. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd.

Turning Point Brands Trading Up 2.3 %

Shares of TPB stock traded up $1.00 during trading hours on Wednesday, hitting $43.57. 81,535 shares of the company were exchanged, compared to its average volume of 133,593. The firm has a fifty day moving average of $40.09 and a 200 day moving average of $35.13. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. Turning Point Brands has a 1 year low of $19.67 and a 1 year high of $43.82. The firm has a market cap of $771.62 million, a PE ratio of 18.00 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The firm had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. Analysts expect that Turning Point Brands will post 2.68 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction dated 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 owns 46,544 shares in the company, valued at approximately $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in Turning Point Brands during the 1st quarter worth $48,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Turning Point Brands during the first quarter worth about $64,000. SG Americas Securities LLC acquired a new position in shares of Turning Point Brands in the second quarter worth about $129,000. The Manufacturers Life Insurance Company purchased a new position in Turning Point Brands in the second quarter valued at about $209,000. Finally, Magnetar Financial LLC acquired a new stake in Turning Point Brands during the 2nd quarter valued at approximately $212,000. 96.12% of the stock is owned by institutional investors and hedge funds.

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.