Turning Point Brands Inc. (TPB) Rating Lowered to Strong Sell at Zacks Investment Research
Turning Point Brands Inc. (NYSE:TPB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday.
According to Zacks, “Turning Point Brands, Inc. provides tobacco products. The Company’s product consists of moist snuff, loose leaf chewing tobacco, cigarette papers, make-your-own cigar wraps and cigar smoking tobacco, cigars and liquid and tobacco vapour. Its portfolio of brands includes Zig-Zag(R), Beech-Nut(R) and Stoker’s(R). Turning Point Brands, Inc. is based in Louisville, Kentucky. “
Separately, FBR & Co reaffirmed a “buy” rating on shares of Turning Point Brands in a report on Thursday, June 16th.
Turning Point Brands (NYSE:TPB) opened at 12.27 on Thursday. The firm’s 50 day moving average is $13.20 and its 200 day moving average is $11.30. Turning Point Brands has a 12-month low of $6.46 and a 12-month high of $16.14. The company has a market cap of $219.63 million and a P/E ratio of 13.40.
Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.39. The business had revenue of $51.60 million for the quarter, compared to the consensus estimate of $48 million. Turning Point Brands’s revenue was up 7.5% on a year-over-year basis. Equities research analysts anticipate that Turning Point Brands will post $0.80 EPS for the current fiscal year.
About Turning Point Brands
Turning Point Brands, Inc, formerly North Atlantic Holding Company, Inc, is a provider of Other Tobacco Products (OTP) in the United States. The Company operates through three segments: smokeless products, smoking products and NewGen products. The Smokeless products market consists of approximately four product categories, which includes loose leaf chewing tobacco, Moist Snuff, Moist Snuff Pouches and Snus.
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