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

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

A number of other equities analysts have also recently commented on TPB. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners started coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They set a "buy" rating and a $80.00 target price for the company. Finally, Roth Mkm reissued a "buy" rating and issued a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $73.33.

Turning Point Brands Stock Performance

NYSE TPB traded up $1.63 during trading on Friday, reaching $59.61. 117,098 shares of the company's stock were exchanged, compared to its average volume of 160,057. Turning Point Brands has a fifty-two week low of $27.48 and a fifty-two week high of $72.54. The stock has a market capitalization of $1.06 billion, a P/E ratio of 23.65 and a beta of 0.70. The business has a 50 day moving average price of $61.04 and a 200-day moving average price of $58.03. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Right Capital Management L.P. increased its stake in Turning Point Brands by 356.6% during the 4th quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock worth $8,075,000 after acquiring an additional 104,931 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Turning Point Brands by 36.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock worth $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% during the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company's stock worth $5,845,000 after buying an additional 65,457 shares in the last quarter. Portolan Capital Management LLC bought a new position in Turning Point Brands in the 4th quarter valued at about $3,817,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Turning Point Brands by 40.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after buying an additional 58,425 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.