Wall Street Zen Upgrades Turning Point Brands (NYSE:TPB) to "Hold"

Key Points

• Wall Street Zen upgraded Turning Point Brands from “sell” to “hold.” Across analysts, the stock has an average “hold” rating and a $101 average price target, though recent target cuts included Needham’s reduction to $95 and Oppenheimer’s to $90.
• TPB opened at $55.60, near its one-year low of $54.17 and well below its one-year high of $146.90.
• The company beat quarterly estimates, reporting EPS of $0.41 versus $0.20 expected and revenue of $151.1 million versus $146.68 million; revenue rose 27% year over year.

Turning Point Brands (NYSE:TPB - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts also recently issued reports on the stock. Needham & Company LLC cut their target price on shares of Turning Point Brands from $125.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday. Weiss Ratings restated a "hold (c)" rating on shares of Turning Point Brands in a report on Friday, August 28th. Oppenheimer decreased their target price on Turning Point Brands from $130.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, September 22nd. Compass Point set a $116.00 price target on Turning Point Brands in a report on Monday, August 10th. Finally, BTIG Research reiterated a "buy" rating on shares of Turning Point Brands in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $101.00.

Turning Point Brands Stock Performance

Shares of TPB opened at $55.60 on Friday. The company has a 50-day moving average of $63.64 and a two-hundred day moving average of $84.26. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 40.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.83 and a quick ratio of 4.16. Turning Point Brands has a one year low of $54.17 and a one year high of $146.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings results on Monday, November 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.21. The business had revenue of $151.10 million for the quarter, compared to analyst estimates of $146.68 million. Turning Point Brands had a net margin of 5.08% and a return on equity of 6.60%. The firm's revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.27 earnings per share. On average, equities research analysts expect that Turning Point Brands will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds have recently added to or reduced their stakes in TPB. Pillsbury Lake Capital LLC raised its position in Turning Point Brands by 35.8% during the third quarter. Pillsbury Lake Capital LLC now owns 170,523 shares of the company's stock valued at $10,010,000 after acquiring an additional 44,984 shares in the last quarter. First Trust Advisors LP grew its position in Turning Point Brands by 7.9% in the third quarter. First Trust Advisors LP now owns 1,052,744 shares of the company's stock worth $61,796,000 after acquiring an additional 77,307 shares in the last quarter. Cibc World Market Inc. grew its position in Turning Point Brands by 12.4% in the third quarter. Cibc World Market Inc. now owns 12,241 shares of the company's stock worth $719,000 after acquiring an additional 1,355 shares in the last quarter. GatePass Capital LLC grew its position in Turning Point Brands by 13.4% in the third quarter. GatePass Capital LLC now owns 26,753 shares of the company's stock worth $1,570,000 after acquiring an additional 3,153 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Turning Point Brands by 15.4% during the 3rd quarter. Bessemer Group Inc. now owns 5,076 shares of the company's stock worth $298,000 after purchasing an additional 679 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc. is a U.S.-based manufacturer, marketer and distributor of branded consumer products, with a portfolio focused on tobacco and nicotine products and related accessories. Its products are sold primarily in the United States, with distribution in international markets as well. The company's Zig-Zag Products business includes rolling papers, wraps, cones and other products associated with the Zig-Zag brand. Its Stoker's Products business offers products such as loose-leaf chewing tobacco and moist snuff, along with nicotine pouches sold under brands including Stoker's and FRE.

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