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

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

Several other equities analysts also recently commented on TPB. Benchmark increased their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer initiated coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Craig Hallum lifted their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Roth Mkm reiterated a “buy” rating and issued a $70.00 target price (up from $55.00) on shares of Turning Point Brands in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $60.71 on Friday. The stock has a fifty day moving average of $58.08 and a 200-day moving average of $45.31. The stock has a market capitalization of $1.07 billion, a P/E ratio of 24.09 and a beta of 0.66. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands has a 52 week low of $21.98 and a 52 week high of $66.18.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.69 EPS. On average, sell-side 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

Institutional investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC acquired a new stake in Turning Point Brands in the 3rd quarter valued at $61,000. The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands in the 2nd quarter worth about $209,000. Magnetar Financial LLC bought a new position in shares of Turning Point Brands during the 2nd quarter valued at approximately $212,000. Aigen Investment Management LP purchased a new stake in Turning Point Brands in the third quarter worth $221,000. Finally, Moran Wealth Management LLC purchased a new stake in Turning Point Brands in the 3rd quarter worth about $236,000. 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.