Turning Point Brands (NYSE:TPB) Earns Buy Rating from Roth Mkm

Turning Point Brands (NYSE:TPB)‘s stock had its “buy” rating reiterated by investment analysts at Roth Mkm in a note issued to investors on Friday,Benzinga reports. They presently have a $70.00 price target on the stock. Roth Mkm’s target price would indicate a potential upside of 24.18% from the stock’s current price.

A number of other equities research analysts have also recently commented on TPB. Oppenheimer initiated coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Craig Hallum upped their price objective on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Benchmark raised their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Turning Point Brands has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Stock Up 0.6 %

Shares of NYSE:TPB opened at $56.37 on Friday. The company has a market capitalization of $997.58 million, a PE ratio of 22.37 and a beta of 0.66. 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 company’s fifty day moving average is $58.84 and its 200-day moving average is $45.98. Turning Point Brands has a 52 week low of $21.98 and a 52 week high of $66.18.

Turning Point Brands (NYSE:TPB) last issued its quarterly 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 net margin of 11.63% and a return on equity of 33.14%. The company had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same quarter in the previous year, the company earned $0.69 EPS. Turning Point Brands’s revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TPB. Dimensional Fund Advisors LP raised its position in Turning Point Brands by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock valued at $14,785,000 after purchasing an additional 4,600 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after acquiring an additional 15,344 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Turning Point Brands by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after acquiring an additional 52,800 shares during the period. Aristides Capital LLC boosted its stake in Turning Point Brands by 6.3% during the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock worth $6,514,000 after acquiring an additional 12,041 shares in the last quarter. Finally, Harspring Capital Management LLC grew its holdings in Turning Point Brands by 13.4% in the second quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock worth $5,824,000 after purchasing an additional 21,500 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, 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.