Turning Point Brands (NYSE:TPB) Stock Rating Upgraded by Roth Capital

Turning Point Brands (NYSE:TPB) was upgraded by stock analysts at Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

TPB has been the subject of several other reports. StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Roth Mkm initiated coverage on Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Benchmark restated a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a report on Friday, August 2nd.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $52.53 on Friday. The company has a market cap of $930.31 million, a P/E ratio of 20.85 and a beta of 0.63. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. The business has a 50-day moving average price of $42.95 and a two-hundred day moving average price of $37.54. Turning Point Brands has a 1-year low of $21.19 and a 1-year high of $52.92.

Turning Point Brands (NYSE:TPB) last issued 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. The business had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 34.39% and a net margin of 11.63%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. As a group, analysts anticipate that Turning Point Brands will post 2.68 EPS for the current year.

Insider Activity at Turning Point Brands

In other Turning Point Brands 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 transaction of $78,840.00. Following the transaction, the director now directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPB. Marshall Wace LLP increased its holdings in Turning Point Brands by 0.3% in the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after acquiring an additional 367 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Turning Point Brands by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after acquiring an additional 693 shares during the period. Access Investment Management LLC raised its holdings in Turning Point Brands by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock valued at $3,895,000 after acquiring an additional 745 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Turning Point Brands by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock worth $371,000 after acquiring an additional 800 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Turning Point Brands by 6.8% in the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after acquiring an additional 1,159 shares during the period. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

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.