StockNews.com began coverage on shares of Turning Point Brands (NYSE:TPB – Get Rating) in a report released on Thursday morning. The brokerage issued a hold rating on the stock.
Turning Point Brands Stock Performance
Shares of TPB stock opened at $20.41 on Thursday. The stock has a market cap of $358.40 million, a PE ratio of 39.25 and a beta of 0.49. The business has a 50-day simple moving average of $22.29 and a 200-day simple moving average of $21.82. The company has a quick ratio of 3.39, a current ratio of 6.11 and a debt-to-equity ratio of 3.19. Turning Point Brands has a 52-week low of $18.81 and a 52-week high of $34.31.
Turning Point Brands (NYSE:TPB – Get Rating) last issued its quarterly earnings data on Friday, February 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.30. The business had revenue of $103.39 million during the quarter. Turning Point Brands had a return on equity of 42.27% and a net margin of 2.81%. On average, equities analysts expect that Turning Point Brands will post 2.36 EPS for the current year.
Turning Point Brands Increases Dividend
Hedge Funds Weigh In On Turning Point Brands
Large investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in Turning Point Brands in the 4th quarter worth about $38,000. Citigroup Inc. raised its holdings in Turning Point Brands by 97.2% in the 4th quarter. Citigroup Inc. now owns 3,196 shares of the company’s stock worth $69,000 after purchasing an additional 1,575 shares during the period. Tower Research Capital LLC TRC raised its holdings in Turning Point Brands by 25.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the company’s stock worth $76,000 after purchasing an additional 725 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Turning Point Brands by 63.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,911 shares of the company’s stock worth $85,000 after purchasing an additional 1,520 shares during the period. Finally, Legal & General Group Plc raised its holdings in Turning Point Brands by 8.1% in the 2nd quarter. Legal & General Group Plc now owns 5,461 shares of the company’s stock worth $149,000 after purchasing an additional 407 shares during the period. Institutional investors and hedge funds own 83.74% of the company’s stock.
Turning Point Brands Company Profile
Turning Point Brands, Inc engages in manufacturing, marketing, and distributing branded consumer products including alternative smoking accessories and consumables with active ingredients. It operates through the following segments: Zig-Zag Products, Stoker’s Products, and NewGen products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, and MYO cigar wraps.
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