Turning Point Brands (NYSE:TPB) Upgraded by Roth Capital to “Strong-Buy” Rating

Turning Point Brands (NYSE:TPB) was upgraded by equities researchers at Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Roth Mkm initiated coverage on Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 target price for the company. Finally, Benchmark reiterated a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd.

Turning Point Brands Trading Up 1.6 %

Shares of NYSE:TPB opened at $52.53 on Friday. The business’s 50-day moving average is $42.95 and its 200 day moving average is $37.54. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. Turning Point Brands has a 1 year low of $21.19 and a 1 year high of $52.92. The firm has a market capitalization of $930.31 million, a P/E ratio of 20.85 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data 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 net margin of 11.63% and a return on equity of 34.39%. The firm had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. During the same period last year, the firm posted $0.69 EPS. Turning Point Brands’s revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that Turning Point Brands will post 2.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the sale, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC raised its position in shares of Turning Point Brands by 45.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after purchasing an additional 79,489 shares during the last quarter. Boston Partners acquired a new stake in shares of Turning Point Brands in the first quarter worth approximately $964,000. Tidal Investments LLC purchased a new stake in shares of Turning Point Brands during the first quarter worth approximately $1,661,000. Vanguard Group Inc. raised its stake in Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Turning Point Brands by 245.9% in the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after purchasing an additional 109,983 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

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.