Turning Point Brands (NYSE:TPB) Upgraded by StockNews.com to "Buy" Rating
Turning Point Brands (NYSE:TPB) has been upgraded from a "hold" to a "buy" rating by StockNews.com. The stock is currently trading at $57.72, with a market cap of $1.03 billion and a consensus rating of "Buy" among analysts. Various analysts have set target prices ranging from $70.00 to $85.00. Institutional investors hold 96.12% of the stock, indicating strong interest. The company operates in the consumer products sector, focusing on brands like Zig-Zag.
Turning Point Brands (NYSE:TPB - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.
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Other equities research analysts also recently issued reports about the company. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a report on Thursday, March 6th. Alliance Global Partners started coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective for the company. Finally, Roth Mkm reissued a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $73.33.
Read Our Latest Analysis on TPB
Turning Point Brands Stock Up 0.8 %
Shares of TPB stock traded up $0.43 during trading hours on Friday, hitting $57.72. 113,731 shares of the company's stock traded hands, compared to its average volume of 159,706. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock's fifty day simple moving average is $61.56 and its two-hundred day simple moving average is $57.71. Turning Point Brands has a 12-month low of $26.87 and a 12-month high of $72.54. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 22.90 and a beta of 0.70.
Hedge Funds Weigh In On Turning Point Brands
Hedge funds and other institutional investors have recently modified their holdings of the company. Virtus Fund Advisers LLC bought a new position in Turning Point Brands in the fourth quarter valued at about $48,000. USA Financial Formulas purchased a new position in shares of Turning Point Brands in the fourth quarter worth approximately $73,000. Sunbelt Securities Inc. bought a new stake in Turning Point Brands during the fourth quarter valued at approximately $96,000. Tower Research Capital LLC TRC increased its holdings in Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new position in Turning Point Brands in the fourth quarter worth approximately $201,000. 96.12% of the stock is owned by institutional investors.
About Turning Point Brands
(Get Free Report)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.
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