Turning Point Brands (NYSE:TPB) Cut to Hold at StockNews.com

StockNews.com cut shares of Turning Point Brands (NYSE:TPB) from a buy rating to a hold rating in a report issued on Tuesday.

Several other brokerages have also weighed in on TPB. Oppenheimer began coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective for the company. Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Benchmark upped their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Craig Hallum upped their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Trading Up 8.9 %

Shares of TPB stock opened at $67.27 on Tuesday. 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 1 year low of $21.98 and a 1 year high of $67.42. The stock has a fifty day moving average of $59.76 and a two-hundred day moving average of $49.32. The firm has a market capitalization of $1.19 billion, a PE ratio of 26.70 and a beta of 0.65.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. During the same quarter in the previous year, the firm posted $0.69 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect that Turning Point Brands will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Copeland Capital Management LLC acquired a new position in Turning Point Brands during the third quarter valued at $61,000. USA Financial Formulas acquired a new position in Turning Point Brands during the fourth quarter valued at $73,000. The Manufacturers Life Insurance Company purchased a new position in Turning Point Brands in the second quarter valued at about $209,000. Levin Capital Strategies L.P. purchased a new position in Turning Point Brands in the fourth quarter valued at about $212,000. Finally, Aigen Investment Management LP purchased a new position in Turning Point Brands in the third quarter valued at about $221,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Company Profile

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.