Turning Point Brands (NYSE:TPB) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday, ValuEngine reports.

A number of other brokerages have also weighed in on TPB. Zacks Investment Research upgraded shares of Turning Point Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Craig Hallum increased their target price on shares of Turning Point Brands from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. B. Riley reiterated a “buy” rating and set a $38.00 target price on shares of Turning Point Brands in a research report on Thursday, July 9th. Finally, TheStreet upgraded shares of Turning Point Brands from a “c” rating to a “b-” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Turning Point Brands has a consensus rating of “Buy” and an average target price of $39.50.

NYSE TPB opened at $31.25 on Tuesday. Turning Point Brands has a 52-week low of $14.09 and a 52-week high of $34.56. The company has a 50-day simple moving average of $30.29 and a 200 day simple moving average of $25.09. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.66 and a current ratio of 3.11. The company has a market capitalization of $600.69 million, a PE ratio of 97.66 and a beta of 0.72.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.26. Turning Point Brands had a net margin of 1.75% and a return on equity of 41.61%. The business had revenue of $104.96 million during the quarter, compared to the consensus estimate of $100.01 million. During the same quarter last year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, analysts forecast that Turning Point Brands will post 2.47 EPS for the current fiscal year.

In other news, major shareholder General L.P. Standard sold 2,215,000 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $22.44, for a total value of $49,704,600.00. Following the completion of the transaction, the insider now directly owns 8,178,918 shares in the company, valued at $183,534,919.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in TPB. DG Capital Management LLC bought a new stake in Turning Point Brands during the first quarter valued at approximately $3,669,000. Northern Right Capital Management L.P. lifted its position in Turning Point Brands by 162.0% during the first quarter. Northern Right Capital Management L.P. now owns 224,400 shares of the company’s stock valued at $4,737,000 after purchasing an additional 138,753 shares during the last quarter. Trexquant Investment LP bought a new stake in Turning Point Brands during the first quarter valued at approximately $666,000. Monarch Partners Asset Management LLC bought a new stake in Turning Point Brands during the second quarter valued at approximately $707,000. Finally, Thrivent Financial for Lutherans lifted its position in Turning Point Brands by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,509,030 shares of the company’s stock valued at $37,589,000 after purchasing an additional 19,986 shares during the last quarter. Institutional investors own 42.01% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products 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 loose leaf chewing tobacco products.

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