Turning Point Brands (NYSE:TPB) Stock Rating Lowered by Wall Street Zen

Turning Point Brands (NYSE:TPB) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Sunday.

Several other research firms have also weighed in on TPB. Weiss Ratings lowered shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Friday, May 8th. Compass Point set a $103.00 target price on Turning Point Brands in a research note on Tuesday, July 21st. Finally, BTIG Research initiated coverage on Turning Point Brands in a report on Tuesday, July 21st. They set a “buy” rating and a $103.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Turning Point Brands presently has an average rating of “Moderate Buy” and an average target price of $113.50.

Turning Point Brands Price Performance

Shares of TPB opened at $80.18 on Friday. Turning Point Brands has a 52 week low of $65.80 and a 52 week high of $146.90. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 27.27 and a beta of 0.92. The stock has a 50 day moving average of $82.69 and a 200-day moving average of $94.18.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The business had revenue of $124.28 million for the quarter, compared to analyst estimates of $115.67 million. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, analysts forecast that Turning Point Brands will post 1.39 EPS for the current year.

Insider Buying and Selling

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the sale, the chief accounting officer directly owned 9,230 shares in the company, valued at approximately $846,114.10. The trade was a 30.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new stake in Turning Point Brands during the fourth quarter worth approximately $27,000. Empowered Funds LLC bought a new position in Turning Point Brands during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new position in Turning Point Brands during the 3rd quarter valued at $28,000. Advisory Services Network LLC bought a new position in Turning Point Brands during the 3rd quarter valued at $28,000. Finally, First Horizon Corp increased its position in shares of Turning Point Brands by 96.0% during the 4th quarter. First Horizon Corp now owns 492 shares of the company’s stock valued at $53,000 after purchasing an additional 241 shares during the period. 96.12% of the stock is currently owned by institutional investors.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.