Turning Point Brands (NYSE:TPB) Upgraded at Zacks Research

Turning Point Brands (NYSE:TPB) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Turning Point Brands in a report on Thursday, October 30th. Needham & Company LLC started coverage on shares of Turning Point Brands in a research note on Friday, August 1st. They issued a “hold” rating on the stock. Alliance Global Partners increased their price objective on shares of Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Industrial Alliance Securities set a $110.00 target price on shares of Turning Point Brands in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Turning Point Brands has a consensus rating of “Buy” and an average price target of $95.00.

Turning Point Brands Price Performance

Shares of TPB stock opened at $97.97 on Wednesday. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.82. Turning Point Brands has a 12-month low of $51.48 and a 12-month high of $110.55. The firm has a fifty day moving average of $95.18 and a 200-day moving average of $85.08. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 34.50 and a beta of 0.85.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.81 by $0.46. The business had revenue of $118.98 million for the quarter, compared to the consensus estimate of $111.42 million. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, equities research analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current year.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, Director Lawrence Wexler sold 10,401 shares of Turning Point Brands stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $99.03, for a total value of $1,030,011.03. Following the sale, the director directly owned 280,368 shares in the company, valued at approximately $27,764,843.04. The trade was a 3.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 46,470 shares of company stock valued at $4,635,682. 6.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds have recently modified their holdings of TPB. GAMMA Investing LLC raised its holdings in Turning Point Brands by 90.7% during the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after acquiring an additional 156 shares in the last quarter. First Horizon Corp acquired a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $25,000. Briaud Financial Planning Inc acquired a new position in shares of Turning Point Brands during the 2nd quarter worth approximately $31,000. Huntington National Bank raised its stake in shares of Turning Point Brands by 54.9% during the 3rd quarter. Huntington National Bank now owns 457 shares of the company’s stock worth $45,000 after purchasing an additional 162 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $74,000. 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.