Turning Point Brands’ (TPB) Buy Rating Reiterated at Roth Mkm

Turning Point Brands (NYSE:TPB)‘s stock had its “buy” rating reaffirmed by equities research analysts at Roth Mkm in a report released on Tuesday,Benzinga reports. They presently have a $70.00 price objective on the stock, up from their previous price objective of $55.00. Roth Mkm’s price objective would suggest a potential upside of 18.26% from the stock’s current price.

A number of other research firms also recently issued reports on TPB. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Craig Hallum increased their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Benchmark upped their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Oppenheimer initiated coverage on Turning Point Brands in a report 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $68.75.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $59.19 on Tuesday. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.49 and a beta of 0.66. The stock’s 50 day moving average is $54.23 and its 200-day moving average is $43.08. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands has a 12 month low of $21.98 and a 12 month high of $66.18.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. During the same quarter last year, the business earned $0.69 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that Turning Point Brands will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors have recently modified their holdings of the business. 272 Capital LP acquired a new position in Turning Point Brands during the third quarter worth about $1,488,000. Barclays PLC increased its position in Turning Point Brands by 298.6% during the 3rd quarter. Barclays PLC now owns 29,274 shares of the company’s stock worth $1,262,000 after purchasing an additional 21,930 shares in the last quarter. Geode Capital Management LLC lifted its stake in Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after purchasing an additional 15,344 shares during the last quarter. First Sabrepoint Capital Management LP acquired a new stake in Turning Point Brands in the third quarter valued at approximately $7,517,000. Finally, Jane Street Group LLC grew its stake in shares of Turning Point Brands by 9.9% during the third quarter. Jane Street Group LLC now owns 29,228 shares of the company’s stock worth $1,261,000 after buying an additional 2,637 shares during the last quarter. 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.