Turning Point Brands (NYSE:TPB) Reaches New 12-Month High – Here’s What Happened

Turning Point Brands, Inc. (NYSE:TPB)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $66.27 and last traded at $66.42, with a volume of 120981 shares changing hands. The stock had previously closed at $61.76.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TPB shares. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer assumed coverage on Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price for the company. Finally, Craig Hallum raised their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Trading Up 7.6 %

The stock has a market capitalization of $1.18 billion, a PE ratio of 26.37 and a beta of 0.65. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The stock has a 50 day moving average price of $59.75 and a 200-day moving average price of $49.24.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating 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 business had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. During the same period in the previous year, the company posted $0.69 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Institutional Trading of Turning Point Brands

Several large investors have recently added to or reduced their stakes in TPB. USA Financial Formulas bought a new stake in Turning Point Brands during the 4th quarter worth approximately $73,000. Copeland Capital Management LLC bought a new position in shares of Turning Point Brands in the third quarter worth about $61,000. Levin Capital Strategies L.P. purchased a new stake in shares of Turning Point Brands during the fourth quarter worth about $212,000. Entropy Technologies LP bought a new stake in Turning Point Brands during the 4th quarter valued at approximately $234,000. Finally, Legato Capital Management LLC purchased a new position in Turning Point Brands in the 4th quarter worth approximately $278,000. 96.12% of the stock is currently owned by 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.