Turning Point Brands (NYSE:TPB) Stock Rating Upgraded by Wall Street Zen

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

Other research analysts also recently issued research reports about the company. Zacks Research downgraded Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Turning Point Brands presently has an average rating of “Hold” and a consensus price target of $118.75.

Turning Point Brands Stock Down 1.2%

TPB stock opened at $86.58 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 29.45 and a beta of 0.92. Turning Point Brands has a fifty-two week low of $65.80 and a fifty-two week high of $146.90. The stock has a fifty day moving average of $83.41 and a 200-day moving average of $100.66.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The company had revenue of $124.28 million during the quarter, compared to the consensus estimate of $115.67 million. During the same quarter in the prior year, the company earned $0.91 EPS. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts predict that Turning Point Brands will post 1.43 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Turning Point Brands

A number of large investors have recently modified their holdings of TPB. Lord Abbett & CO. LLC bought a new stake in shares of Turning Point Brands during the 4th quarter valued at about $28,454,000. Madison Avenue Partners LP bought a new stake in shares of Turning Point Brands during the 4th quarter valued at about $26,853,000. Wellington Management Group LLP bought a new stake in shares of Turning Point Brands during the 3rd quarter valued at about $20,788,000. First Trust Advisors LP boosted its position in shares of Turning Point Brands by 72.4% during the 4th quarter. First Trust Advisors LP now owns 494,262 shares of the company’s stock valued at $53,578,000 after acquiring an additional 207,604 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its position in shares of Turning Point Brands by 29,795.8% during the 4th quarter. Copeland Capital Management LLC now owns 204,188 shares of the company’s stock valued at $22,134,000 after acquiring an additional 203,505 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

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.