Turning Point Brands (NYSE:TPB) Raised to Sell at Wall Street Zen

Turning Point Brands (NYSE:TPB) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Monday.

Several other brokerages also recently commented on TPB. Compass Point set a $103.00 target price on shares of Turning Point Brands in a report on Tuesday, July 21st. BTIG Research initiated coverage on shares of Turning Point Brands in a report on Tuesday, July 21st. They set a “buy” rating and a $103.00 price target on the stock. Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Finally, Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Turning Point Brands Trading Down 1.8%

NYSE TPB opened at $87.77 on Monday. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $82.63 and a 200 day simple moving average of $92.82. Turning Point Brands has a 12 month low of $65.80 and a 12 month high of $146.90. The firm has a market capitalization of $1.70 billion, a P/E ratio of 37.67 and a beta of 0.92.

Institutional Investors Weigh In On Turning Point Brands

Several large investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in Turning Point Brands during the fourth quarter valued at about $27,000. Empowered Funds LLC purchased a new position in shares of Turning Point Brands in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Turning Point Brands in the third quarter worth about $28,000. Advisory Services Network LLC bought a new stake in shares of Turning Point Brands in the third quarter valued at approximately $28,000. Finally, First Horizon Corp raised its position in shares of Turning Point Brands by 96.0% in the fourth quarter. First Horizon Corp now owns 492 shares of the company’s stock valued at $53,000 after purchasing an additional 241 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.