Turning Point Brands Inc. (TPB) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Turning Point Brands Inc. (NYSE:TPB) from a hold rating to a strong sell rating in a research report released on Thursday morning.

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 report on Thursday, June 16th.

Shares of Turning Point Brands (NYSE:TPB) traded up 0.9221% during trading on Thursday, hitting $12.3125. 2,044 shares of the company traded hands. Turning Point Brands has a one year low of $6.46 and a one year high of $16.14. The firm has a 50 day moving average price of $13.18 and a 200-day moving average price of $11.31. The stock has a market cap of $220.39 million and a price-to-earnings ratio of 13.4416.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.39. The company had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $48 million. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts predict that Turning Point Brands will post $0.80 EPS 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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