Craig Hallum Issues Positive Forecast for Turning Point Brands (NYSE:TPB) Stock Price

Turning Point Brands (NYSE:TPB) had its price objective boosted by analysts at Craig Hallum from $60.00 to $75.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective would indicate a potential upside of 16.88% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on TPB. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. StockNews.com cut Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Benchmark upped their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Roth Mkm began coverage on Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Oppenheimer began coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $63.75.

Turning Point Brands Stock Performance

NYSE TPB traded up $0.90 on Thursday, hitting $64.17. 140,860 shares of the company’s stock were exchanged, compared to its average volume of 125,768. 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 firm’s 50-day moving average price is $50.20 and its two-hundred day moving average price is $41.03. Turning Point Brands has a fifty-two week low of $21.98 and a fifty-two week high of $66.18. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 25.44 and a beta of 0.66.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TPB. 272 Capital LP purchased a new position in shares of Turning Point Brands in the 3rd quarter worth $1,488,000. Barclays PLC raised its position in shares of Turning Point Brands by 298.6% in the 3rd quarter. Barclays PLC now owns 29,274 shares of the company’s stock worth $1,262,000 after buying an additional 21,930 shares during the period. Geode Capital Management LLC raised its position in shares of Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after buying an additional 15,344 shares during the period. First Sabrepoint Capital Management LP purchased a new position in shares of Turning Point Brands in the 3rd quarter worth $7,517,000. Finally, Jane Street Group LLC raised its position in shares of Turning Point Brands by 9.9% in the 3rd quarter. Jane Street Group LLC now owns 29,228 shares of the company’s stock worth $1,261,000 after buying an additional 2,637 shares during the period. Hedge funds and other 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.