Turning Point Brands (NYSE:TPB) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.
TPB has been the subject of several other reports. Zacks Investment Research raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday. TheStreet raised shares of Turning Point Brands from a “c-” rating to a “b-” rating in a report on Friday, May 10th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Turning Point Brands has a consensus rating of “Buy” and a consensus price target of $51.00.
Shares of NYSE:TPB traded up $1.72 during trading on Thursday, hitting $38.97. 334,420 shares of the stock traded hands, compared to its average volume of 324,625. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.29 and a current ratio of 1.77. The stock has a market capitalization of $763.42 million, a P/E ratio of 22.79 and a beta of 0.65. The business’s fifty day simple moving average is $48.87. Turning Point Brands has a 52-week low of $26.39 and a 52-week high of $57.06.
Turning Point Brands (NYSE:TPB) last posted its earnings results on Wednesday, July 31st. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $93.30 million during the quarter, compared to analyst estimates of $93.30 million. Turning Point Brands had a net margin of 9.02% and a return on equity of 45.46%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. As a group, equities research analysts anticipate that Turning Point Brands will post 2.03 EPS for the current fiscal year.
In related news, Director H.C. Charles Diao purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average price of $50.54 per share, with a total value of $101,080.00. Following the acquisition, the director now owns 12,000 shares in the company, valued at $606,480. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert M. Lavan purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $37.03 per share, with a total value of $92,575.00. Following the acquisition, the chief financial officer now owns 6,000 shares in the company, valued at approximately $222,180. The disclosure for this purchase can be found here. 5.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virginia Retirement Systems ET AL increased its holdings in Turning Point Brands by 1.4% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 22,000 shares of the company’s stock worth $1,078,000 after acquiring an additional 300 shares in the last quarter. Rhumbline Advisers increased its holdings in Turning Point Brands by 6.3% in the 1st quarter. Rhumbline Advisers now owns 10,770 shares of the company’s stock worth $496,000 after acquiring an additional 635 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Turning Point Brands in the 2nd quarter worth $55,000. Great West Life Assurance Co. Can increased its holdings in Turning Point Brands by 960.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 1,993 shares of the company’s stock worth $52,000 after acquiring an additional 1,805 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Turning Point Brands by 356.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,825 shares of the company’s stock worth $77,000 after acquiring an additional 2,206 shares in the last quarter. 31.11% of the stock is owned by institutional investors.
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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