Turning Point Brands (NYSE:TPB) PT Raised to $45.00

Turning Point Brands (NYSE:TPB) had its target price increased by research analysts at Benchmark from $34.00 to $45.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective points to a potential upside of 37.49% from the company’s previous close.

Turning Point Brands Stock Up 0.5 %

NYSE:TPB opened at $32.73 on Friday. Turning Point Brands has a fifty-two week low of $19.67 and a fifty-two week high of $34.00. The stock has a market capitalization of $578.57 million, a P/E ratio of 14.42 and a beta of 0.50. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.68 and a current ratio of 2.67. The company’s 50-day simple moving average is $27.77 and its 200-day simple moving average is $25.07.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.72 EPS for the quarter. The firm had revenue of $97.10 million during the quarter, compared to analyst estimates of $90.11 million. Turning Point Brands had a net margin of 10.68% and a return on equity of 39.00%. Turning Point Brands’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS.

Insider Activity at Turning Point Brands

In related news, insider Plano Lorenzo De acquired 15,043 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $27.97 per share, with a total value of $420,752.71. Following the transaction, the insider now directly owns 31,375 shares of the company’s stock, valued at approximately $877,558.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd raised its position in Turning Point Brands by 7.4% during the 3rd quarter. Quadrature Capital Ltd now owns 14,899 shares of the company’s stock worth $344,000 after buying an additional 1,026 shares during the last quarter. BNP Paribas Financial Markets raised its position in Turning Point Brands by 6.8% during the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after buying an additional 1,159 shares during the last quarter. AJOVista LLC purchased a new position in Turning Point Brands during the 4th quarter worth approximately $47,000. Hsbc Holdings PLC raised its position in Turning Point Brands by 5.5% during the 3rd quarter. Hsbc Holdings PLC now owns 39,918 shares of the company’s stock worth $923,000 after buying an additional 2,066 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Turning Point Brands during the 1st quarter worth approximately $64,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.