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

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

TPB has been the topic of a number of other reports. Benchmark boosted their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Roth Mkm reiterated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday. They set a “buy” rating and a $80.00 target price for the company. Oppenheimer assumed coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. Finally, Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $71.00.

Turning Point Brands Price Performance

Turning Point Brands stock remained flat at $70.30 during midday trading on Monday. The company had a trading volume of 260,101 shares, compared to its average volume of 140,802. The company has a market cap of $1.24 billion, a P/E ratio of 27.90 and a beta of 0.65. Turning Point Brands has a 12-month low of $25.79 and a 12-month high of $72.28. The stock has a fifty day simple moving average of $62.50 and a two-hundred day simple moving average of $53.43. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds have recently bought and sold shares of the company. Virtus Fund Advisers LLC bought a new position in Turning Point Brands during the 4th quarter worth approximately $48,000. USA Financial Formulas acquired a new stake in shares of Turning Point Brands during the 4th quarter valued at approximately $73,000. Sunbelt Securities Inc. bought a new position in Turning Point Brands during the fourth quarter worth $96,000. Tower Research Capital LLC TRC boosted its holdings in Turning Point Brands by 29.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after purchasing an additional 532 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in Turning Point Brands during the fourth quarter valued at $201,000. 96.12% of the stock is currently 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.