Roth Mkm Reiterates “Buy” Rating for Turning Point Brands (NYSE:TPB)

Turning Point Brands (NYSE:TPB)‘s stock had its “buy” rating reiterated by Roth Mkm in a research report issued on Tuesday,Benzinga reports. They currently have a $70.00 price target on the stock, up from their previous price target of $55.00. Roth Mkm’s price target would indicate a potential upside of 15.72% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Craig Hallum upped their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Oppenheimer initiated coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target for the company. Finally, Benchmark upped their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Performance

NYSE:TPB traded down $0.28 during mid-day trading on Tuesday, hitting $60.49. The stock had a trading volume of 50,334 shares, compared to its average volume of 128,150. Turning Point Brands has a twelve month low of $21.98 and a twelve month high of $66.18. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 23.87 and a beta of 0.66. The company’s 50 day simple moving average is $53.49 and its 200 day simple moving average is $42.77.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. During the same period in the previous year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current year.

Institutional Trading of Turning Point Brands

A number of institutional investors and hedge funds have recently made changes to their positions in TPB. 272 Capital LP acquired a new position in shares of Turning Point Brands during the 3rd quarter worth $1,488,000. Barclays PLC grew its position in Turning Point Brands by 298.6% in the third quarter. Barclays PLC now owns 29,274 shares of the company’s stock valued at $1,262,000 after acquiring an additional 21,930 shares during the last quarter. Geode Capital Management LLC raised its stake in Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after acquiring an additional 15,344 shares in the last quarter. First Sabrepoint Capital Management LP bought a new position in shares of Turning Point Brands in the third quarter worth about $7,517,000. Finally, Jane Street Group LLC boosted its stake in shares of Turning Point Brands by 9.9% in the 3rd quarter. Jane Street Group LLC now owns 29,228 shares of the company’s stock valued at $1,261,000 after purchasing an additional 2,637 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.