Turning Point Brands (NYSE:TPB) Downgraded by StockNews.com to Hold

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

Several other research analysts have also commented on the company. Craig Hallum lifted their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Benchmark lifted their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Roth Mkm reissued a "buy" rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research report on Thursday, March 6th. Finally, Oppenheimer initiated 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 objective on the stock. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $73.33.

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Turning Point Brands Price Performance

Shares of NYSE TPB traded up $1.47 during midday trading on Tuesday, reaching $58.41. 215,894 shares of the stock traded hands, compared to its average volume of 146,032. The company's 50 day moving average is $62.75 and its 200 day moving average is $54.45. Turning Point Brands has a one year low of $26.45 and a one year high of $72.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The stock has a market capitalization of $1.04 billion, a PE ratio of 23.18 and a beta of 0.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. First Sabrepoint Capital Management LP purchased a new stake in Turning Point Brands in the 3rd quarter valued at about $7,517,000. Northern Right Capital Management L.P. raised its stake in shares of Turning Point Brands by 356.6% during the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock valued at $8,075,000 after acquiring an additional 104,931 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Turning Point Brands by 36.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock valued at $19,145,000 after purchasing an additional 84,552 shares during the period. Invesco Ltd. grew its stake in Turning Point Brands by 205.8% in the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company's stock worth $5,845,000 after purchasing an additional 65,457 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new stake in Turning Point Brands during the 4th quarter valued at $3,817,000. 96.12% of the stock is currently owned by 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.