Turning Point Brands (NYSE:TPB) Lowered to “Hold” Rating by StockNews.com

Turning Point Brands (NYSE:TPB) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

TPB has been the topic of several other reports. Craig Hallum boosted their price target on shares of 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 objective 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 Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Oppenheimer began coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target on the stock. Finally, Roth Mkm started coverage on Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Turning Point Brands has a consensus rating of “Buy” and a consensus price target of $63.75.

Turning Point Brands Stock Up 1.7 %

TPB stock traded up $1.06 during midday trading on Tuesday, reaching $63.88. 227,368 shares of the company’s stock traded hands, compared to its average volume of 127,086. Turning Point Brands has a 52 week low of $21.98 and a 52 week high of $66.18. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 25.35 and a beta of 0.66. The firm’s fifty day moving average price is $51.89 and its 200-day moving average price is $41.95. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating 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 company had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter last year, the company earned $0.69 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side 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 hedge funds have recently made changes to their positions in TPB. Price T Rowe Associates Inc. MD boosted its position in shares of Turning Point Brands by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock valued at $371,000 after acquiring an additional 800 shares during the period. Comerica Bank grew its stake in Turning Point Brands by 22,417.6% in the 1st quarter. Comerica Bank now owns 7,656 shares of the company’s stock worth $224,000 after buying an additional 7,622 shares in the last quarter. SG Americas Securities LLC purchased a new position in Turning Point Brands in the 2nd quarter worth approximately $129,000. Bank of New York Mellon Corp increased its holdings in shares of Turning Point Brands by 5.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 134,855 shares of the company’s stock worth $4,327,000 after buying an additional 6,519 shares during the last quarter. Finally, Access Investment Management LLC raised its position in Turning Point Brands by 0.6% during the second quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock valued at $3,895,000 after purchasing an additional 745 shares in the last quarter. 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.