Turning Point Brands Inc. (TPB) Upgraded to Strong-Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Turning Point Brands Inc. (NYSE:TPB) from a hold rating to a strong-buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $14.00 price objective on the stock.
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 restated a buy rating on shares of Turning Point Brands in a research note on Tuesday, August 16th.
Turning Point Brands (NYSE:TPB) remained flat at $12.49 during mid-day trading on Tuesday. The stock had a trading volume of 151 shares. Turning Point Brands has a 12 month low of $6.46 and a 12 month high of $16.14. The stock’s 50-day moving average is $13.12 and its 200 day moving average is $11.34. The firm has a market capitalization of $223.57 million and a P/E ratio of 13.64.
Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.05 earnings per share (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 business’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Turning Point Brands will post $0.80 EPS for the current fiscal year.
About Turning Point Brands
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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