Turning Point Brands (NYSE:TPB) Earns "Buy (B-)" Rating from Weiss Ratings

Key Points

• Weiss Ratings reaffirmed a "buy (B-)" rating for Turning Point Brands (TPB), while other brokerages have assigned mixed ratings, with Needham & Company issuing a "hold".
• Shares of Turning Point Brands dropped 5.0% to $85.16, with a current average target price of $78.83 from analysts.
• In the most recent quarter, the company reported earnings per share of $0.98, surpassing expectations of $0.79, alongside a revenue increase of 25.1% year over year.

Turning Point Brands (NYSE:TPB - Get Free Report)'s stock had its "buy (b-)" rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other brokerages have also commented on TPB. Needham & Company LLC initiated coverage on shares of Turning Point Brands in a research note on Friday, August 1st. They issued a "hold" rating for the company. Zacks Research cut shares of Turning Point Brands from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Wall Street Zen cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Oppenheimer boosted their price objective on shares of Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.83.

Turning Point Brands Trading Down 5.0%

Shares of Turning Point Brands stock traded down $4.48 during trading on Wednesday, reaching $85.16. The company's stock had a trading volume of 563,206 shares, compared to its average volume of 285,982. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 35.63 and a beta of 0.74. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30. The firm's 50-day moving average is $96.73 and its two-hundred day moving average is $78.66. Turning Point Brands has a 52-week low of $40.63 and a 52-week high of $104.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.19. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The firm had revenue of $116.63 million for the quarter, compared to analysts' expectations of $107.30 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The business's revenue was up 25.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current year.

Institutional Trading of Turning Point Brands

A number of hedge funds and other institutional investors have recently modified their holdings of TPB. Divisadero Street Capital Management LP increased its stake in shares of Turning Point Brands by 187.5% in the 2nd quarter. Divisadero Street Capital Management LP now owns 943,784 shares of the company's stock worth $71,511,000 after acquiring an additional 615,521 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new stake in shares of Turning Point Brands in the 2nd quarter worth $18,458,000. 4D Advisors LLC increased its position in shares of Turning Point Brands by 133.7% during the 2nd quarter. 4D Advisors LLC now owns 222,000 shares of the company's stock worth $16,821,000 after purchasing an additional 127,000 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Turning Point Brands by 1,369.7% during the 2nd quarter. SG Americas Securities LLC now owns 123,648 shares of the company's stock worth $9,369,000 after purchasing an additional 115,235 shares during the last quarter. Finally, Northern Right Capital Management L.P. increased its position in shares of Turning Point Brands by 63.9% during the 1st quarter. Northern Right Capital Management L.P. now owns 220,178 shares of the company's stock worth $13,087,000 after purchasing an additional 85,824 shares during the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

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.

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