Turning Point Brands (NYSE:TPB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday.

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. “

A number of other brokerages have also weighed in on TPB. FBR & Co reiterated a “buy” rating and set a $17.00 price objective on shares of Turning Point Brands in a report on Monday, October 2nd. Cowen reiterated a “buy” rating and set a $20.00 price objective on shares of Turning Point Brands in a report on Sunday, September 17th. Finally, B. Riley reiterated a “buy” rating and set a $20.00 price objective on shares of Turning Point Brands in a report on Friday, November 10th.

Shares of Turning Point Brands (NYSE:TPB) traded up $0.26 on Thursday, reaching $21.42. 73,100 shares of the company were exchanged, compared to its average volume of 136,486. Turning Point Brands has a one year low of $12.31 and a one year high of $22.99. The company has a market cap of $411.47 and a price-to-earnings ratio of 12.90. The company has a quick ratio of 0.37, a current ratio of 1.81 and a debt-to-equity ratio of 3.77.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). Turning Point Brands had a net margin of 12.70% and a return on equity of 93.53%. The company had revenue of $73.30 million for the quarter, compared to the consensus estimate of $71.15 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s quarterly revenue was up 43.9% compared to the same quarter last year. equities analysts predict that Turning Point Brands will post 1.15 EPS for the current year.

In other Turning Point Brands news, insider James Wells Dobbins sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $20.94, for a total transaction of $209,400.00. Following the transaction, the insider now owns 94,041 shares of the company’s stock, valued at approximately $1,969,218.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder General L.P. Standard bought 150,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were acquired at an average cost of $20.80 per share, for a total transaction of $3,120,000.00. Following the transaction, the insider now directly owns 2,500 shares in the company, valued at approximately $52,000. The disclosure for this purchase can be found here. Company insiders own 14.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Right Capital Management L.P. increased its position in Turning Point Brands by 13.3% during the 2nd quarter. Northern Right Capital Management L.P. now owns 365,308 shares of the company’s stock valued at $5,604,000 after purchasing an additional 42,800 shares during the period. Vanguard Group Inc. grew its position in shares of Turning Point Brands by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 255,127 shares of the company’s stock worth $3,914,000 after buying an additional 2,834 shares during the last quarter. Argent Capital Management LLC grew its position in shares of Turning Point Brands by 8.7% in the 3rd quarter. Argent Capital Management LLC now owns 180,929 shares of the company’s stock worth $3,076,000 after buying an additional 14,555 shares during the last quarter. State Street Corp grew its position in shares of Turning Point Brands by 5.8% in the 2nd quarter. State Street Corp now owns 84,823 shares of the company’s stock worth $1,301,000 after buying an additional 4,663 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Turning Point Brands by 30.2% in the 3rd quarter. Wells Fargo & Company MN now owns 81,278 shares of the company’s stock worth $1,383,000 after buying an additional 18,866 shares during the last quarter. 17.62% of the stock is currently owned by institutional investors and hedge funds.

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About Turning Point Brands

Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.

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