Turning Point Brands (NYSE:TPB) Stock Rating Lowered by ValuEngine
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.
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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