Turning Point Brands (NYSE:TPB) Rating Lowered to Hold at StockNews.com

Turning Point Brands (NYSE:TPB - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Tuesday.

A number of other analysts have also recently commented on the stock. Oppenheimer began coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an "outperform" rating and a $65.00 price target on the stock. Craig Hallum upped their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Roth Capital upgraded Turning Point Brands to a "strong-buy" rating in a report on Friday, November 8th. Roth Mkm reissued a "buy" rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $68.75.

Turning Point Brands Trading Up 0.2 %

NYSE:TPB traded up $0.11 during trading hours on Tuesday, hitting $67.27. 412,540 shares of the company were exchanged, compared to its average volume of 218,042. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 26.69 and a beta of 0.65. Turning Point Brands has a one year low of $21.98 and a one year high of $69.69. The company has a fifty day simple moving average of $59.88 and a 200 day simple moving average of $49.45. The company has a current ratio of 4.21, a quick ratio of 1.78 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 (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $100.71 million. During the same period last year, the company earned $0.69 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. Sell-side analysts expect that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its position in Turning Point Brands by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 40,867 shares of the company's stock valued at $1,311,000 after purchasing an additional 10,033 shares during the period. Millennium Management LLC lifted its stake in shares of Turning Point Brands by 14.1% in the second quarter. Millennium Management LLC now owns 178,367 shares of the company's stock valued at $5,724,000 after buying an additional 22,035 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Turning Point Brands during the second quarter valued at about $209,000. SG Americas Securities LLC increased its position in shares of Turning Point Brands by 154.7% during the third quarter. SG Americas Securities LLC now owns 10,261 shares of the company's stock worth $443,000 after acquiring an additional 6,233 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 worth $469,000 after acquiring an additional 10,861 shares during the last quarter. Institutional investors 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.