Turning Point Brands (NYSE:TPB) Upgraded to “Strong-Buy” at Roth Capital

Turning Point Brands (NYSE:TPB) was upgraded by equities researchers at Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other analysts have also issued reports on the company. Benchmark restated a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Finally, Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price objective on the stock.

Turning Point Brands Trading Up 1.6 %

NYSE:TPB opened at $52.53 on Friday. The business’s 50-day simple moving average is $42.95 and its 200-day simple moving average is $37.54. Turning Point Brands has a fifty-two week low of $21.19 and a fifty-two week high of $52.92. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. The stock has a market capitalization of $930.31 million, a PE ratio of 20.85 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 34.39%. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same period last year, the business posted $0.69 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that Turning Point Brands will post 2.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the business’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 transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TPB. Allspring Global Investments Holdings LLC acquired a new position in Turning Point Brands in the 1st quarter worth about $64,000. BNP Paribas Financial Markets grew its holdings in Turning Point Brands by 6.8% during the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after acquiring an additional 1,159 shares during the last quarter. Sei Investments Co. increased its position in Turning Point Brands by 6.1% in the 1st quarter. Sei Investments Co. now owns 111,958 shares of the company’s stock valued at $3,280,000 after acquiring an additional 6,470 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after purchasing an additional 79,489 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Turning Point Brands by 6.6% in the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after purchasing an additional 92,147 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

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.