Turning Point Brands (NYSE:TPB) Raised to Buy at Wall Street Zen

Turning Point Brands (NYSE:TPB) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also weighed in on TPB. Zacks Research lowered shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Oppenheimer set a $110.00 price objective on Turning Point Brands and gave the stock an “outperform” rating in a research note on Wednesday. Needham & Company LLC started coverage on Turning Point Brands in a research report on Friday, August 1st. They issued a “hold” rating for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Turning Point Brands in a report on Thursday, October 30th. Finally, Alliance Global Partners boosted their price target on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.00.

Turning Point Brands Stock Performance

NYSE TPB opened at $102.71 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. Turning Point Brands has a 1-year low of $49.12 and a 1-year high of $110.55. The firm has a market capitalization of $1.96 billion, a P/E ratio of 36.17 and a beta of 0.85. The business’s 50-day simple moving average is $95.07 and its 200-day simple moving average is $84.30.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.46. The firm had revenue of $118.98 million during the quarter, compared to the consensus estimate of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Equities analysts predict that Turning Point Brands will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. First Horizon Corp bought a new stake in shares of Turning Point Brands in the third quarter worth $25,000. GAMMA Investing LLC grew its holdings in Turning Point Brands by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after acquiring an additional 156 shares in the last quarter. Briaud Financial Planning Inc bought a new stake in shares of Turning Point Brands in the 2nd quarter worth about $31,000. State of Alaska Department of Revenue acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at about $74,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Turning Point Brands during the second quarter worth about $129,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

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.