Turning Point Brands Inc. (TPB) Upgraded to Strong-Buy by Zacks Investment Research
Turning Point Brands Inc. (NYSE:TPB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm currently has a $14.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 12.00% from the company’s previous close.
According to Zacks, “Turning Point Brands, Inc. provides tobacco products. The Company’s product consists of moist snuff, loose leaf chewing tobacco, cigarette papers, make-your-own cigar wraps and cigar smoking tobacco, cigars and liquid and tobacco vapour. Its portfolio of brands includes Zig-Zag(R), Beech-Nut(R) and Stoker’s(R). Turning Point Brands, Inc. is based in Louisville, Kentucky. “
Separately, FBR & Co raised their target price on Turning Point Brands from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 11th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/turning-point-brands-inc-tpb-upgraded-to-strong-buy-by-zacks-investment-research.html
Shares of Turning Point Brands (NYSE:TPB) opened at 12.50 on Tuesday. Turning Point Brands has a 12-month low of $6.46 and a 12-month high of $16.14. The company has a market cap of $223.75 million and a price-to-earnings ratio of 13.65. The firm’s 50-day moving average price is $13.14 and its 200 day moving average price is $11.33.
Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.44 by $0.39. The firm earned $51.60 million during the quarter, compared to analysts’ expectations of $48 million. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts predict that Turning Point Brands will post $0.80 earnings per share for the current year.
Turning Point Brands Company Profile
Turning Point Brands, Inc, formerly North Atlantic Holding Company, Inc, is a provider of Other Tobacco Products (OTP) in the United States. The Company operates through three segments: smokeless products, smoking products and NewGen products. The Smokeless products market consists of approximately four product categories, which includes loose leaf chewing tobacco, Moist Snuff, Moist Snuff Pouches and Snus.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Turning Point Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.