Roth Capital Upgrades Turning Point Brands (NYSE:TPB) to “Strong-Buy”

Turning Point Brands (NYSE:TPB) was upgraded by Roth Capital to a “strong-buy” rating in a research note issued on Thursday, Zacks.com reports.

TPB has been the subject of several other reports. Benchmark reaffirmed a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a research note on Friday, August 2nd. Roth Mkm assumed coverage on Turning Point Brands in a report on Thursday. They set a “buy” rating and a $50.00 price objective on the stock.

Turning Point Brands Stock Performance

NYSE TPB opened at $41.90 on Thursday. Turning Point Brands has a 1-year low of $19.67 and a 1-year high of $42.32. The company has a market capitalization of $742.05 million, a P/E ratio of 18.46 and a beta of 0.62. The business has a 50 day moving average price of $38.43 and a 200 day moving average price of $33.40. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%.

Insiders Place Their Bets

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now owns 46,544 shares in the company, valued at $1,834,764.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Turning Point Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC bought a new position in shares of Turning Point Brands during the fourth quarter valued at approximately $65,000. Hsbc Holdings PLC grew its holdings in shares of Turning Point Brands by 10.6% during the fourth quarter. Hsbc Holdings PLC now owns 44,164 shares of the company’s stock valued at $1,165,000 after purchasing an additional 4,246 shares during the last quarter. Harspring Capital Management LLC bought a new position in shares of Turning Point Brands during the fourth quarter valued at approximately $2,101,000. Allspring Global Investments Holdings LLC bought a new position in shares of Turning Point Brands during the first quarter valued at approximately $64,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Turning Point Brands by 6.8% during the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock valued at $532,000 after purchasing an additional 1,159 shares during the last quarter. 96.12% of the stock is owned by institutional investors.

About Turning Point Brands

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.