Turning Point Brands Inc. (TPB) Downgraded to “Strong Sell” at Zacks Investment Research
According to Zacks, “Turning Point Brands, Inc. provides tobacco products. The Company’s product consists of moist snuff, loose leaf chewing tobacco, cigarette papers, make-your-own cigar wraps and cigar smoking tobacco, cigars and liquid and tobacco vapour. Its portfolio of brands includes Zig-Zag(R), Beech-Nut(R) and Stoker’s(R). Turning Point Brands, Inc. is based in Louisville, Kentucky. “
Separately, FBR & Co increased their price target on shares of Turning Point Brands from $13.00 to $14.00 and gave the company an outperform rating in a research report on Tuesday.
Turning Point Brands (NYSE:TPB) traded up 0.9221% during mid-day trading on Thursday, reaching $12.3125. 2,044 shares of the company traded hands. The stock has a market capitalization of $220.39 million and a PE ratio of 13.4416. The stock has a 50-day moving average of $13.18 and a 200 day moving average of $11.31. Turning Point Brands has a 52-week low of $6.46 and a 52-week high of $16.14.
Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.44 by $0.39. The firm had revenue of $51.60 million for the quarter, compared to analyst estimates of $48 million. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts expect that Turning Point Brands will post $0.80 earnings per share for the current year.
Turning Point Brands Company Profile
Turning Point Brands, Inc, formerly North Atlantic Holding Company, Inc, is a provider of Other Tobacco Products (OTP) in the United States. The Company operates through three segments: smokeless products, smoking products and NewGen products. The Smokeless products market consists of approximately four product categories, which includes loose leaf chewing tobacco, Moist Snuff, Moist Snuff Pouches and Snus.
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