Turning Point Brands (NYSE:TPB) Upgraded by Roth Capital to "Strong-Buy" Rating

Turning Point Brands (NYSE:TPB - Get Free Report) was upgraded by investment analysts at Roth Capital to a "strong-buy" rating in a note issued to investors on Friday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Roth Mkm initiated coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a "buy" rating and a $50.00 price target on the stock. Benchmark reaffirmed a "buy" rating and issued a $45.00 price target on shares of Turning Point Brands in a research report on Friday, August 2nd. Finally, StockNews.com cut shares of Turning Point Brands from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 24th.

Turning Point Brands Stock Up 1.4 %

Shares of TPB traded up $0.72 during trading hours on Friday, hitting $53.22. The stock had a trading volume of 70,917 shares, compared to its average volume of 117,725. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $43.21 and a 200-day simple moving average of $37.71. The firm has a market capitalization of $942.53 million, a P/E ratio of 21.41 and a beta of 0.63. Turning Point Brands has a 1-year low of $21.19 and a 1-year high of $54.09.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. Turning Point Brands had a return on equity of 34.39% 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 business posted $0.69 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts predict that Turning Point Brands will post 2.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the transaction, the director now owns 46,544 shares of the company's stock, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds have recently modified their holdings of TPB. Allspring Global Investments Holdings LLC purchased a new position in Turning Point Brands in the 1st quarter valued at approximately $64,000. BNP Paribas Financial Markets grew its position in shares of Turning Point Brands by 6.8% during the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company's stock valued at $532,000 after purchasing an additional 1,159 shares in the last quarter. Sei Investments Co. grew its position in shares of Turning Point Brands by 6.1% during the 1st quarter. Sei Investments Co. now owns 111,958 shares of the company's stock valued at $3,280,000 after purchasing an additional 6,470 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Turning Point Brands by 45.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company's stock valued at $7,481,000 after purchasing an additional 79,489 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Turning Point Brands by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company's stock valued at $43,865,000 after purchasing an additional 92,147 shares in the last quarter. Institutional investors 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.