Turning Point Brands (NYSE:TPB) Rating Increased to Buy at StockNews.com

Turning Point Brands (NYSE:TPB) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

TPB has been the topic of a number of other research reports. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Oppenheimer initiated coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price for the company. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Alliance Global Partners began coverage on Turning Point Brands in a research note on Monday. They set a “buy” rating and a $80.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $71.00.

Turning Point Brands Stock Performance

TPB remained flat at $70.30 during trading on Monday. The company had a trading volume of 260,101 shares, compared to its average volume of 140,802. Turning Point Brands has a 52-week low of $25.79 and a 52-week high of $72.28. 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 business’s 50 day moving average price is $62.50 and its 200 day moving average price is $53.43. The firm has a market capitalization of $1.24 billion, a PE ratio of 27.90 and a beta of 0.65.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC bought a new stake in shares of Turning Point Brands in the 4th quarter worth $48,000. USA Financial Formulas acquired a new position in Turning Point Brands during the fourth quarter worth about $73,000. Sunbelt Securities Inc. bought a new stake in Turning Point Brands in the fourth quarter worth about $96,000. Tower Research Capital LLC TRC raised its position in Turning Point Brands by 29.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after acquiring an additional 532 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in Turning Point Brands in the 4th quarter valued at about $201,000. 96.12% of the stock is owned by institutional investors.

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.