Turning Point Brands Inc. (TPB) Stock Rating Reaffirmed by FBR & Co
Turning Point Brands Inc. (NYSE:TPB)‘s stock had its “buy” rating restated by FBR & Co in a report released on Tuesday.
Separately, Zacks Investment Research cut shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 13th.
Turning Point Brands (NYSE:TPB) opened at 14.06 on Tuesday. Turning Point Brands has a 12-month low of $6.46 and a 12-month high of $16.14. The company has a market capitalization of $257.87 million and a price-to-earnings ratio of 17.04. The stock’s 50 day moving average price is $13.15 and its 200 day moving average price is $11.74.
Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.05. The business had revenue of $51 million for the quarter, compared to the consensus estimate of $50.75 million. Turning Point Brands’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that Turning Point Brands will post $1.25 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in Turning Point Brands during the third quarter valued at $124,000. Wells Fargo & Company MN boosted its stake in Turning Point Brands by 6.0% in the third quarter. Wells Fargo & Company MN now owns 27,636 shares of the company’s stock valued at $332,000 after buying an additional 1,561 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Turning Point Brands by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 39,915 shares of the company’s stock valued at $480,000 after buying an additional 172 shares during the last quarter. Northern Trust Corp boosted its stake in Turning Point Brands by 382.1% in the third quarter. Northern Trust Corp now owns 58,625 shares of the company’s stock valued at $705,000 after buying an additional 46,465 shares during the last quarter. Finally, Standard General L.P. boosted its stake in Turning Point Brands by 4.5% in the third quarter. Standard General L.P. now owns 10,175,463 shares of the company’s stock valued at $122,309,000 after buying an additional 442,558 shares during the last quarter. Institutional investors and hedge funds own 66.93% of the company’s stock.
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.
Receive News & Stock Ratings for Turning Point Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Brands Inc. and related stocks with our FREE daily email newsletter.