StockNews.com Downgrades Turning Point Brands (NYSE:TPB) to Hold

Turning Point Brands (NYSE:TPB) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

TPB has been the topic of several other reports. Craig Hallum boosted their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer assumed coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target on the stock. Alliance Global Partners assumed coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target on the stock. 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, Benchmark boosted their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Turning Point Brands has an average rating of “Buy” and an average price target of $73.33.

Turning Point Brands Price Performance

Shares of TPB opened at $59.35 on Tuesday. Turning Point Brands has a 52-week low of $26.45 and a 52-week high of $72.54. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The business’s 50 day moving average price is $62.83 and its two-hundred day moving average price is $54.43. The firm has a market cap of $1.05 billion, a PE ratio of 23.55 and a beta of 0.75.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Turning Point Brands by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company’s stock valued at $91,631,000 after purchasing an additional 18,440 shares during the period. Geode Capital Management LLC grew its stake in Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after purchasing an additional 15,344 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Turning Point Brands by 36.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock valued at $19,145,000 after purchasing an additional 84,552 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Turning Point Brands by 1.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 243,691 shares of the company’s stock valued at $14,646,000 after purchasing an additional 2,667 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Turning Point Brands by 40.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock valued at $12,243,000 after purchasing an additional 58,425 shares during the period. Institutional investors own 96.12% of the company’s stock.

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.