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

StockNews.com downgraded shares of Turning Point Brands (NYSE:TPB) from a buy rating to a hold rating in a report published on Tuesday.

Other analysts also recently issued research reports about the company. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark increased their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Roth Mkm restated a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Oppenheimer started coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price for the company. Finally, Craig Hallum upped their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Performance

TPB opened at $67.27 on Tuesday. The company has a market cap of $1.19 billion, a PE ratio of 26.70 and a beta of 0.65. The stock has a 50-day moving average of $59.76 and a 200-day moving average of $49.32. Turning Point Brands has a 52-week low of $21.98 and a 52-week high of $67.42. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

Turning Point Brands (NYSE:TPB) last announced its 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 return on equity of 33.14% and a net margin of 11.63%. The firm had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. During the same quarter in the prior year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Turning Point Brands

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after acquiring an additional 15,344 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Turning Point Brands by 40.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock worth $12,243,000 after buying an additional 58,425 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Turning Point Brands by 14.1% in the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after buying an additional 22,035 shares in the last quarter. First Sabrepoint Capital Management LP acquired a new position in shares of Turning Point Brands in the 3rd quarter worth approximately $7,517,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after buying an additional 56,364 shares in the last quarter. Institutional investors and hedge funds 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.