Turning Point Brands (NYSE:TPB) Upgraded by Wall Street Zen to “Sell” Rating

Turning Point Brands (NYSE:TPB) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Friday, May 8th. Compass Point set a $103.00 price objective on Turning Point Brands in a report on Tuesday. BTIG Research initiated coverage on Turning Point Brands in a research report on Tuesday. They issued a “buy” rating and a $103.00 target price on the stock. Finally, Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Turning Point Brands has a consensus rating of “Moderate Buy” and a consensus target price of $113.50.

Turning Point Brands Trading Up 4.4%

Shares of NYSE:TPB opened at $76.30 on Friday. The company has a market cap of $1.48 billion, a PE ratio of 25.95 and a beta of 0.92. The company’s 50-day moving average price is $84.14 and its 200 day moving average price is $95.48. Turning Point Brands has a fifty-two week low of $65.80 and a fifty-two week high of $146.90. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm had revenue of $124.28 million during the quarter, compared to analysts’ expectations of $115.67 million. During the same quarter in the prior year, the firm earned $0.91 EPS. Turning Point Brands’s quarterly revenue was up 16.8% on a year-over-year basis. Sell-side analysts anticipate that Turning Point Brands will post 1.39 earnings per share for the current year.

Insider Activity at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the sale, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This represents a 30.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new position in Turning Point Brands during the 4th quarter valued at $27,000. Empowered Funds LLC acquired a new position in shares of Turning Point Brands during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Turning Point Brands in the 3rd quarter worth $28,000. Advisory Services Network LLC bought a new stake in shares of Turning Point Brands in the 3rd quarter worth $28,000. Finally, First Horizon Corp lifted its holdings in shares of Turning Point Brands by 96.0% in the fourth quarter. First Horizon Corp now owns 492 shares of the company’s stock valued at $53,000 after buying an additional 241 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.