Turning Point Brands (NYSE:TPB) Hits New 1-Year High – Still a Buy?

Turning Point Brands, Inc. (NYSE:TPB) shares reached a new 52-week high on Thursday . The stock traded as high as $66.27 and last traded at $66.42, with a volume of 120981 shares. The stock had previously closed at $61.76.

Analyst Ratings Changes

TPB has been the topic of several research analyst reports. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Craig Hallum increased their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Benchmark upped their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Roth Mkm reissued a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. 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 company has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Trading Up 0.2 %

The business’s 50 day moving average is $59.88 and its two-hundred day moving average is $49.45. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $1.19 billion, a P/E ratio of 26.69 and a beta of 0.65.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted $0.69 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Institutional Trading of Turning Point Brands

Several institutional investors have recently modified their holdings of the company. Copeland Capital Management LLC acquired a new stake in Turning Point Brands in the 3rd quarter valued at about $61,000. USA Financial Formulas acquired a new stake in Turning Point Brands during the fourth quarter valued at approximately $73,000. The Manufacturers Life Insurance Company bought a new stake in Turning Point Brands during the second quarter worth approximately $209,000. Levin Capital Strategies L.P. acquired a new position in Turning Point Brands in the fourth quarter worth approximately $212,000. Finally, Aigen Investment Management LP bought a new position in shares of Turning Point Brands in the third quarter valued at $221,000. 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.