StockNews.com Downgrades Turning Point Brands (NYSE:TPB) to Buy

Turning Point Brands (NYSE:TPB) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Several other research firms have also issued reports on TPB. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th. Benchmark reaffirmed a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a research report on Friday, August 2nd. Finally, Roth Mkm initiated coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective for the company.

Turning Point Brands Stock Down 1.4 %

Turning Point Brands stock opened at $45.69 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. Turning Point Brands has a 52-week low of $19.67 and a 52-week high of $47.34. The firm has a 50 day moving average price of $41.15 and a two-hundred day moving average price of $35.93. The firm has a market cap of $805.15 million, a price-to-earnings ratio of 20.13 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The firm had revenue of $108.51 million during the quarter. Equities analysts predict that Turning Point Brands will post 2.68 EPS for the current year.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the sale, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

Institutional Trading of Turning Point Brands

Several hedge funds have recently bought and sold shares of TPB. GSA Capital Partners LLP purchased a new position in Turning Point Brands during the 1st quarter worth $1,587,000. Lord Abbett & CO. LLC boosted its holdings in Turning Point Brands by 45.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after acquiring an additional 79,489 shares during the last quarter. Boston Partners purchased a new position in Turning Point Brands during the 1st quarter worth $964,000. Tidal Investments LLC purchased a new position in Turning Point Brands during the 1st quarter worth $1,661,000. Finally, Vanguard Group Inc. boosted its holdings in Turning Point Brands by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after acquiring an additional 92,147 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.