Several other research analysts have also commented on the company. Buckingham Research assumed coverage on Turning Point Brands in a report on Tuesday, November 26th. They set a buy rating and a $40.00 price objective for the company. B. Riley cut their price objective on Turning Point Brands from $56.00 to $38.00 and set a buy rating for the company in a report on Monday, October 21st. Finally, Zacks Investment Research lowered Turning Point Brands from a hold rating to a sell rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $41.67.
Shares of NYSE TPB opened at $27.02 on Friday. Turning Point Brands has a 12 month low of $20.10 and a 12 month high of $57.06. The company has a current ratio of 4.68, a quick ratio of 2.40 and a debt-to-equity ratio of 3.25. The firm has a market capitalization of $542.87 million, a price-to-earnings ratio of 15.80 and a beta of 0.72. The business has a 50-day moving average of $24.66 and a 200-day moving average of $36.84.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can boosted its stake in Turning Point Brands by 68,100.0% in the second quarter. Bank of Montreal Can now owns 682 shares of the company’s stock worth $33,000 after buying an additional 681 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Turning Point Brands in the second quarter worth approximately $38,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Turning Point Brands in the second quarter worth approximately $55,000. Ibex Investors LLC purchased a new stake in Turning Point Brands in the second quarter worth approximately $229,000. Finally, Voloridge Investment Management LLC boosted its stake in Turning Point Brands by 41.1% in the second quarter. Voloridge Investment Management LLC now owns 6,926 shares of the company’s stock worth $339,000 after buying an additional 2,017 shares in the last quarter. 44.82% of the stock is owned by institutional investors and hedge funds.
About Turning Point Brands
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products in the United States. The company operates in three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.
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