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

Turning Point Brands (NYSE:TPB) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

A number of other equities analysts also recently commented on the company. Roth Mkm started coverage on Turning Point Brands in a report on Thursday. They issued a “buy” rating and a $50.00 price objective on the stock. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Thursday. 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 Stock Up 0.5 %

TPB stock opened at $41.93 on Friday. The company has a 50 day moving average of $38.43 and a two-hundred day moving average of $33.45. The company has a market cap of $742.58 million, a price-to-earnings ratio of 18.47 and a beta of 0.62. Turning Point Brands has a 12-month low of $19.67 and a 12-month high of $42.32. 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 (NYSE:TPB) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The firm had revenue of $108.51 million during the quarter.

Insider Buying and Selling at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new stake in Turning Point Brands during the 1st quarter valued at approximately $48,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Turning Point Brands in the first quarter valued at approximately $64,000. Quest Partners LLC bought a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $65,000. SG Americas Securities LLC acquired a new stake in shares of Turning Point Brands in the second quarter worth $129,000. Finally, The Manufacturers Life Insurance Company bought a new position in Turning Point Brands during the second quarter worth $209,000. 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.