Turning Point Brands (NYSE:TPB) Upgraded by StockNews.com to Buy Rating

Turning Point Brands (NYSE:TPB - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Monday.

A number of other equities research analysts also recently issued reports on TPB. Benchmark boosted their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Craig Hallum boosted 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 Mkm restated a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Roth Capital raised Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. Finally, Oppenheimer began coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an "outperform" rating and a $65.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $68.75.

Turning Point Brands Trading Up 5.3 %

Shares of NYSE TPB traded up $3.02 during trading on Monday, hitting $60.48. 217,378 shares of the company were exchanged, compared to its average volume of 190,667. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. The company has a fifty day moving average price of $59.75 and a 200-day moving average price of $48.00. The firm has a market capitalization of $1.07 billion, a PE ratio of 24.00 and a beta of 0.66.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. The firm had revenue of $105.62 million for the quarter, compared to analysts' expectations of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. As a group, equities research analysts expect that Turning Point Brands will post 2.59 EPS for the current year.

Institutional Trading of Turning Point Brands

Several hedge funds have recently added to or reduced their stakes in TPB. USA Financial Formulas purchased a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $73,000. Copeland Capital Management LLC acquired a new position in shares of Turning Point Brands during the third quarter worth $61,000. Aigen Investment Management LP acquired a new position in shares of Turning Point Brands during the third quarter worth $221,000. Moran Wealth Management LLC purchased a new position in Turning Point Brands in the third quarter valued at $236,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Turning Point Brands in the second quarter valued at $209,000. Institutional investors and hedge funds own 96.12% of the company's stock.

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.

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