Zacks Investment Research Upgrades Turning Point Brands Inc. (TPB) to “Strong-Buy”
Turning Point Brands Inc. (NYSE:TPB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm presently has a $14.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 12.00% from the company’s current price.
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 lifted their price target on Turning Point Brands from $13.00 to $14.00 and gave the stock an “outperform” rating in a report 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/zacks-investment-research-upgrades-turning-point-brands-inc-tpb-to-strong-buy.html
Turning Point Brands (NYSE:TPB) opened at 12.50 on Tuesday. The stock has a 50 day moving average price of $13.14 and a 200-day moving average price of $11.33. Turning Point Brands has a one year low of $6.46 and a one year high of $16.14. The firm has a market capitalization of $223.75 million and a PE ratio of 13.65.
Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.39. The company earned $51.60 million during the quarter, compared to analyst estimates of $48 million. Turning Point Brands’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Turning Point Brands will post $0.80 earnings per share for the current year.
About Turning Point Brands
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.