Roth Capital Upgrades Turning Point Brands (NYSE:TPB) to Strong-Buy

Turning Point Brands (NYSE:TPB) was upgraded by research analysts at Roth Capital to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Benchmark reissued a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd. StockNews.com downgraded Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Finally, Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective on the stock.

Turning Point Brands Trading Up 1.6 %

Shares of Turning Point Brands stock opened at $52.53 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The firm has a market cap of $930.31 million, a price-to-earnings ratio of 20.85 and a beta of 0.63. Turning Point Brands has a twelve month low of $21.19 and a twelve month high of $52.92. The business has a 50-day moving average price of $42.95 and a 200-day moving average price of $37.54.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 34.39%. The firm had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. During the same period last year, the firm posted $0.69 earnings per share. Turning Point Brands’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Turning Point Brands will post 2.68 EPS for the current fiscal year.

Insider Transactions at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP raised its holdings in shares of Turning Point Brands by 0.3% in the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock valued at $3,849,000 after purchasing an additional 367 shares in the last quarter. Principal Financial Group Inc. boosted its position in Turning Point Brands by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after acquiring an additional 693 shares in the last quarter. Access Investment Management LLC boosted its position in Turning Point Brands by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock valued at $3,895,000 after acquiring an additional 745 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Turning Point Brands by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock valued at $371,000 after purchasing an additional 800 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Turning Point Brands by 6.8% in the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after purchasing an additional 1,159 shares in the last quarter. 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.