Zacks Investment Research upgraded shares of Turning Point Brands (NYSE:TPB) from a strong sell rating to a hold rating in a research note issued to investors on Thursday morning. They currently have $24.00 target price on the stock.

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. “

Other equities analysts also recently issued research reports about the stock. B. Riley restated a buy rating and issued a $20.00 price objective on shares of Turning Point Brands in a research note on Friday, November 10th. FBR & Co restated a buy rating and issued a $17.00 price objective on shares of Turning Point Brands in a research note on Monday, October 2nd. Finally, Cowen restated a buy rating and issued a $20.00 price objective on shares of Turning Point Brands in a research note on Sunday, September 17th.

Turning Point Brands (NYSE TPB) opened at $22.38 on Thursday. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.37 and a current ratio of 1.81. The company has a market cap of $429.92, a price-to-earnings ratio of 12.94 and a beta of -0.15. Turning Point Brands has a 12 month low of $12.31 and a 12 month high of $22.99.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.06). Turning Point Brands had a net margin of 12.70% and a return on equity of 93.53%. The company had revenue of $73.30 million during the quarter, compared to analyst estimates of $71.15 million. During the same quarter in the prior year, the company earned $0.34 EPS. The business’s revenue was up 43.9% on a year-over-year basis. analysts expect that Turning Point Brands will post 1.15 EPS for the current year.

In other Turning Point Brands news, Director H.C. Charles Diao bought 7,697 shares of Turning Point Brands stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $15.91 per share, with a total value of $122,459.27. Following the completion of the acquisition, the director now owns 11,000 shares of the company’s stock, valued at $175,010. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder General L.P. Standard bought 150,000 shares of Turning Point Brands stock in a transaction dated Wednesday, January 3rd. The stock was acquired at an average cost of $20.80 per share, with a total value of $3,120,000.00. Following the completion of the acquisition, the insider now directly owns 2,500 shares of the company’s stock, valued at approximately $52,000. The disclosure for this purchase can be found here. Corporate insiders own 14.20% of the company’s stock.

Several large investors have recently made changes to their positions in TPB. Wells Fargo & Company MN raised its holdings in shares of Turning Point Brands by 30.5% in the second quarter. Wells Fargo & Company MN now owns 62,412 shares of the company’s stock valued at $957,000 after buying an additional 14,584 shares during the last quarter. Martingale Asset Management L P purchased a new stake in shares of Turning Point Brands in the second quarter valued at about $280,000. AJO LP purchased a new stake in shares of Turning Point Brands in the second quarter valued at about $520,000. Teachers Advisors LLC raised its holdings in shares of Turning Point Brands by 25.6% in the second quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock valued at $157,000 after buying an additional 2,087 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of Turning Point Brands in the second quarter valued at about $413,000. 17.62% of the stock is owned by institutional investors and hedge funds.

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Turning Point Brands Company Profile

Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.

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