Turning Point Brands (NYSE:TPB) Price Target Raised to $45.00

Turning Point Brands (NYSE:TPB - Get Free Report) had its price objective hoisted by equities research analysts at Benchmark from $34.00 to $45.00 in a report issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price target would indicate a potential upside of 37.45% from the stock's previous close.

Turning Point Brands Price Performance

Shares of NYSE TPB traded up $0.17 during midday trading on Friday, reaching $32.74. 176,173 shares of the company traded hands, compared to its average volume of 121,333. Turning Point Brands has a 12 month low of $19.67 and a 12 month high of $34.00. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.68 and a current ratio of 2.67. The stock's 50-day simple moving average is $27.77 and its 200-day simple moving average is $25.05. The firm has a market cap of $578.84 million, a PE ratio of 15.97 and a beta of 0.50.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $0.72 earnings per share (EPS) for the quarter. Turning Point Brands had a net margin of 9.49% and a return on equity of 38.62%. The business had revenue of $97.10 million during the quarter, compared to analysts' expectations of $90.11 million. During the same quarter last year, the company posted $0.65 EPS. The firm's revenue for the quarter was down 6.1% on a year-over-year basis.

Insider Transactions at Turning Point Brands

In other news, insider Plano Lorenzo De bought 15,043 shares of the business's stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $27.97 per share, for a total transaction of $420,752.71. Following the completion of the acquisition, the insider now owns 31,375 shares in the company, valued at approximately $877,558.75. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Turning Point Brands

Several large investors have recently made changes to their positions in the stock. AJOVista LLC bought a new position in Turning Point Brands in the fourth quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC acquired a new position in Turning Point Brands during the first quarter worth $64,000. Quest Partners LLC bought a new stake in Turning Point Brands during the fourth quarter worth $65,000. Tower Research Capital LLC TRC lifted its stake in Turning Point Brands by 571.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,017 shares of the company's stock valued at $106,000 after acquiring an additional 3,419 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Turning Point Brands in the 3rd quarter valued at about $204,000. 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.