Turning Point Brands (NYSE:TPB) Lowered to “Hold” Rating by StockNews.com

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

A number of other brokerages also recently issued reports on TPB. Oppenheimer assumed coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Roth Mkm reissued a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research note on Friday. Benchmark raised their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. 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 report on Thursday, December 5th. Finally, Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Trading Up 0.2 %

Shares of NYSE:TPB traded up $0.13 during trading on Tuesday, reaching $55.84. 143,484 shares of the company traded hands, compared to its average volume of 211,723. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands has a 52-week low of $21.98 and a 52-week high of $66.18. The firm has a market capitalization of $988.20 million, a price-to-earnings ratio of 22.16 and a beta of 0.66. The business’s fifty day moving average is $59.28 and its 200-day moving average is $46.67.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same quarter in the prior year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts forecast that Turning Point Brands will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds have recently bought and sold shares of the business. Corsair Capital Management L.P. lifted its holdings in shares of Turning Point Brands by 49.0% during the third quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock valued at $1,312,000 after purchasing an additional 10,000 shares during the last quarter. Pekin Hardy Strauss Inc. purchased a new position in Turning Point Brands during the third quarter valued at $1,260,000. Millennium Management LLC boosted its holdings in Turning Point Brands by 14.1% in the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after acquiring an additional 22,035 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Turning Point Brands by 245.9% in the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after acquiring an additional 109,983 shares during the last quarter. Finally, Harspring Capital Management LLC increased its holdings in shares of Turning Point Brands by 13.4% during the second quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock valued at $5,824,000 after acquiring an additional 21,500 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

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.