Turning Point Brands (NYSE:TPB) Given Buy Rating at Roth Mkm

Turning Point Brands (NYSE:TPB)‘s stock had its “buy” rating reaffirmed by equities researchers at Roth Mkm in a report released on Friday,Benzinga reports. They presently have a $70.00 target price on the stock. Roth Mkm’s price objective would indicate a potential upside of 24.18% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Oppenheimer started coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Benchmark upped their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Craig Hallum raised their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Turning Point Brands has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Stock Performance

Shares of TPB opened at $56.37 on Friday. The company’s 50 day simple moving average is $58.84 and its 200-day simple moving average is $45.98. The firm has a market cap of $997.58 million, a PE ratio of 22.37 and a beta of 0.66. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. 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 (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 EPS. As a group, equities analysts predict that Turning Point Brands will post 2.59 EPS for the current year.

Institutional Trading of Turning Point Brands

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in Turning Point Brands by 84.5% in the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after acquiring an additional 56,364 shares in the last quarter. 272 Capital LP purchased a new stake in Turning Point Brands in the 3rd quarter worth about $1,488,000. Barclays PLC grew its stake in Turning Point Brands by 298.6% during the 3rd quarter. Barclays PLC now owns 29,274 shares of the company’s stock valued at $1,262,000 after acquiring an additional 21,930 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 period. Finally, First Sabrepoint Capital Management LP purchased a new stake in shares of Turning Point Brands in the third quarter worth approximately $7,517,000. Institutional investors 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.