Turning Point Brands (NYSE:TPB) Reaches New 12-Month High – Here’s What Happened

Shares of Turning Point Brands, Inc. (NYSE:TPB) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $66.27 and last traded at $66.42, with a volume of 120981 shares traded. The stock had previously closed at $61.76.

Analyst Ratings Changes

TPB has been the subject of several recent analyst reports. Benchmark boosted their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Craig Hallum raised their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Roth Mkm reissued a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. Finally, StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Price Performance

The stock has a market capitalization of $1.18 billion, a PE ratio of 26.37 and a beta of 0.65. The firm’s 50 day simple moving average is $59.75 and its 200 day simple moving average is $49.24. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. As a group, equities analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Turning Point Brands

A number of large investors have recently bought and sold shares of the stock. Martingale Asset Management L P lifted its position in Turning Point Brands by 1.4% during the 3rd quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock valued at $1,065,000 after acquiring an additional 329 shares during the period. Principal Financial Group Inc. increased its stake in shares of Turning Point Brands by 7.1% during the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock valued at $436,000 after purchasing an additional 482 shares in the last quarter. Access Investment Management LLC increased its stake in shares of Turning Point Brands by 0.4% during the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company’s stock valued at $7,340,000 after purchasing an additional 540 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Turning Point Brands during the fourth quarter valued at approximately $73,000. Finally, Copeland Capital Management LLC bought a new stake in shares of Turning Point Brands in the 3rd quarter worth approximately $61,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

About Turning Point Brands

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.