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

Turning Point Brands (NYSE:TPB) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

TPB has been the topic of a number of other research reports. Oppenheimer assumed coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners started coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. Craig Hallum increased their price objective on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $73.33.

Turning Point Brands Stock Up 0.5 %

Shares of NYSE TPB opened at $59.35 on Tuesday. Turning Point Brands has a one year low of $26.45 and a one year high of $72.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The business’s fifty day moving average price is $62.83 and its 200-day moving average price is $54.43. The stock has a market capitalization of $1.05 billion, a PE ratio of 23.55 and a beta of 0.75.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors have recently added to or reduced their stakes in TPB. Virtus Fund Advisers LLC bought a new position in Turning Point Brands in the 4th quarter worth about $48,000. USA Financial Formulas bought a new position in Turning Point Brands in the 4th quarter worth about $73,000. Sunbelt Securities Inc. bought a new position in Turning Point Brands in the 4th quarter worth about $96,000. Tower Research Capital LLC TRC increased its stake in Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after acquiring an additional 532 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new position in Turning Point Brands in the 4th quarter worth about $201,000. 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.