Benchmark Issues Positive Forecast for Turning Point Brands (NYSE:TPB) Stock Price

Turning Point Brands (NYSE:TPB) had its price objective boosted by analysts at Benchmark from $45.00 to $65.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 18.18% from the company’s current price.

Several other research firms have also weighed in on TPB. StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective for the company.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $55.00 on Tuesday. The firm has a 50 day moving average of $43.51 and a 200-day moving average of $37.90. Turning Point Brands has a 12 month low of $21.66 and a 12 month high of $55.75. The company has a current ratio of 4.21, a quick ratio of 1.17 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $973.34 million, a PE ratio of 21.83 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $100.71 million. During the same period in the previous year, the business earned $0.69 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that Turning Point Brands will post 2.62 EPS for the current fiscal year.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the transaction, the director now owns 46,544 shares in the company, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Corsair Capital Management L.P. raised its position in shares of Turning Point Brands by 49.0% during the third quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock worth $1,312,000 after acquiring an additional 10,000 shares during the last quarter. BNP Paribas Financial Markets increased its position in Turning Point Brands by 22.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 38,571 shares of the company’s stock valued at $1,664,000 after purchasing an additional 7,170 shares during the period. Pekin Hardy Strauss Inc. bought a new position in Turning Point Brands during the 3rd quarter worth approximately $1,260,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Turning Point Brands by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock valued at $6,269,000 after purchasing an additional 2,442 shares during the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in shares of Turning Point Brands during the third quarter worth $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.