Turning Point Brands (NYSE:TPB - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Wednesday.
Other research analysts also recently issued research reports about the company. Alliance Global Partners assumed coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective on the stock. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a report on Thursday, March 6th. Finally, Oppenheimer boosted their price target on Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $76.67.
Get Our Latest Stock Analysis on Turning Point Brands
Turning Point Brands Price Performance
NYSE TPB traded up $1.47 during trading hours on Wednesday, reaching $73.44. 243,350 shares of the stock traded hands, compared to its average volume of 168,036. The stock has a 50 day simple moving average of $60.69 and a two-hundred day simple moving average of $60.64. Turning Point Brands has a 1 year low of $30.61 and a 1 year high of $81.05. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 29.14 and a beta of 0.69.
Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.75 by $0.16. The firm had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company's quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, analysts predict that Turning Point Brands will post 2.59 EPS for the current fiscal year.
Insider Buying and Selling at Turning Point Brands
In other Turning Point Brands news, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00. Following the sale, the chief accounting officer now directly owns 10,171 shares of the company's stock, valued at approximately $770,453.25. The trade was a 25.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory H.A. Baxter sold 1,500 shares of Turning Point Brands stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $73.64, for a total value of $110,460.00. Following the sale, the director now directly owns 40,419 shares in the company, valued at approximately $2,976,455.16. The trade was a 3.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.60% of the company's stock.
Institutional Trading of Turning Point Brands
Hedge funds have recently made changes to their positions in the stock. Entropy Technologies LP bought a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $234,000. Legato Capital Management LLC bought a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $278,000. Principal Financial Group Inc. boosted its position in shares of Turning Point Brands by 7.1% in the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock worth $436,000 after purchasing an additional 482 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Turning Point Brands by 2,339.9% in the 4th quarter. Russell Investments Group Ltd. now owns 24,985 shares of the company's stock worth $1,502,000 after purchasing an additional 23,961 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock worth $5,311,000 after purchasing an additional 56,364 shares in the last quarter. 96.12% of the stock is owned by institutional investors.
Turning Point Brands Company Profile
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Get Free Report)
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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