Turning Point Brands (NYSE:TPB) Sets New 12-Month High - Here's What Happened

Shares of Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $66.27 and last traded at $66.42, with a volume of 120981 shares trading hands. The stock had previously closed at $61.76.

Analysts Set New Price Targets

A number of research firms have commented on TPB. Craig Hallum increased their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 5th. StockNews.com lowered Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Roth Mkm restated a "buy" rating and issued a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Benchmark increased their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Turning Point Brands currently has a consensus rating of "Buy" and a consensus target price of $68.75.

Turning Point Brands Stock Up 1.8 %

The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 27.14 and a beta of 0.65. The business's fifty day moving average is $59.98 and its two-hundred day moving average is $49.84. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 net margin of 11.63% and a return on equity of 33.14%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. Equities analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Turning Point Brands during the second quarter worth $209,000. SG Americas Securities LLC increased its holdings in Turning Point Brands by 154.7% during the 3rd quarter. SG Americas Securities LLC now owns 10,261 shares of the company's stock worth $443,000 after purchasing an additional 6,233 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Turning Point Brands by 72,406.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,876 shares of the company's stock valued at $469,000 after purchasing an additional 10,861 shares in the last quarter. Copeland Capital Management LLC bought a new position in Turning Point Brands during the third quarter worth $61,000. Finally, Aigen Investment Management LP bought a new stake in shares of Turning Point Brands in the 3rd quarter worth approximately $221,000. 96.12% of the stock is owned by institutional investors and hedge funds.

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.