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

Turning Point Brands (NYSE:TPB – Get Rating) had its price target lowered by equities research analysts at Cowen from $65.00 to $45.00 in a report released on Thursday, Stock Target Advisor reports. Cowen’s price target would indicate a potential upside of 86.88% from the stock’s previous close.

A number of other research firms have also recently commented on TPB. B. Riley reduced their price target on shares of Turning Point Brands from $45.00 to $39.00 in a report on Thursday. Cowen dropped their price objective on shares of Turning Point Brands from $65.00 to $45.00 in a research note on Thursday. Craig Hallum dropped their price objective on shares of Turning Point Brands from $50.00 to $45.00 in a research note on Thursday. TheStreet lowered shares of Turning Point Brands from a “b-” rating to a “c+” rating in a research note on Thursday, May 19th. Finally, StockNews.com started coverage on shares of Turning Point Brands in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

Turning Point Brands Trading Up 0.3 %

Shares of TPB traded up $0.07 during trading hours on Thursday, hitting $24.08. 18,237 shares of the stock were exchanged, compared to its average volume of 210,824. Turning Point Brands has a fifty-two week low of $22.04 and a fifty-two week high of $54.49. The company has a debt-to-equity ratio of 3.15, a current ratio of 4.49 and a quick ratio of 2.71. The business has a 50-day moving average of $28.09 and a 200-day moving average of $31.00. The firm has a market capitalization of $436.71 million, a P/E ratio of 9.63 and a beta of 0.55.

Turning Point Brands (NYSE:TPB – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04. Turning Point Brands had a net margin of 11.69% and a return on equity of 45.02%. The company had revenue of $102.90 million during the quarter, compared to analysts’ expectations of $105.86 million. During the same period in the prior year, the company posted $0.84 earnings per share. Turning Point Brands’s revenue for the quarter was down 16.1% compared to the same quarter last year. On average, research analysts expect that Turning Point Brands will post 2.86 EPS for the current year.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds have recently bought and sold shares of TPB. BlackRock Inc. grew its stake in Turning Point Brands by 5.0% in the 1st quarter. BlackRock Inc. now owns 1,030,076 shares of the company’s stock worth $35,033,000 after buying an additional 48,600 shares in the last quarter. Vanguard Group Inc. grew its stake in Turning Point Brands by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 973,564 shares of the company’s stock worth $33,111,000 after buying an additional 37,570 shares in the last quarter. Boston Partners grew its stake in Turning Point Brands by 239.4% in the 4th quarter. Boston Partners now owns 522,799 shares of the company’s stock worth $19,657,000 after buying an additional 368,764 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Turning Point Brands by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 403,925 shares of the company’s stock worth $13,736,000 after buying an additional 3,092 shares in the last quarter. Finally, First Sabrepoint Capital Management LP grew its stake in Turning Point Brands by 0.6% in the 1st quarter. First Sabrepoint Capital Management LP now owns 386,172 shares of the company’s stock worth $13,134,000 after buying an additional 2,472 shares in the last quarter. Hedge funds and other institutional investors own 82.81% of the company’s stock.

About Turning Point Brands

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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 NewGen Products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products under the Zig-Zag brand.