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

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

A number of other equities analysts have also recently weighed in on the stock. Oppenheimer assumed coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Roth Mkm restated a “buy” rating and set a $70.00 target price (up from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th. Craig Hallum lifted their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Benchmark raised their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Trading Up 0.3 %

NYSE TPB opened at $59.84 on Thursday. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $1.06 billion, a P/E ratio of 23.75 and a beta of 0.66. Turning Point Brands has a 52-week low of $21.98 and a 52-week high of $66.18. The firm has a 50-day moving average price of $56.54 and a 200 day moving average price of $44.31.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results 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 return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same period last year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that Turning Point Brands will post 2.59 EPS for the current year.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Turning Point Brands by 84.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after purchasing an additional 56,364 shares during the last quarter. 272 Capital LP acquired a new stake in Turning Point Brands during the third quarter worth approximately $1,488,000. Barclays PLC grew its stake in Turning Point Brands by 298.6% in the 3rd quarter. Barclays PLC now owns 29,274 shares of the company’s stock worth $1,262,000 after acquiring an additional 21,930 shares during the period. Geode Capital Management LLC raised its holdings in Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after acquiring an additional 15,344 shares during the last quarter. Finally, First Sabrepoint Capital Management LP purchased a new position in shares of Turning Point Brands during the 3rd quarter worth $7,517,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

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.