Turning Point Brands (NYSE:TPB) Upgraded by StockNews.com to "Buy" Rating

Turning Point Brands (NYSE:TPB - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.Get Turning Point Brands alerts:Other equities research analysts also recently issued reports about the company. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a report on Thursday, March 6th. Alliance Global Partners started coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price objective for the company. Finally, Roth Mkm reissued a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $73.33.Read Our Latest Analysis on TPBTurning Point Brands Stock Up 0.8 %Shares of TPB stock traded up $0.43 during trading hours on Friday, hitting $57.72. 113,731 shares of the company's stock traded hands, compared to its average volume of 159,706. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock's fifty day simple moving average is $61.56 and its two-hundred day simple moving average is $57.71. Turning Point Brands has a 12-month low of $26.87 and a 12-month high of $72.54. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 22.90 and a beta of 0.70. Hedge Funds Weigh In On Turning Point BrandsHedge funds and other institutional investors have recently modified their holdings of the company. Virtus Fund Advisers LLC bought a new position in Turning Point Brands in the fourth quarter valued at about $48,000. USA Financial Formulas purchased a new position in shares of Turning Point Brands in the fourth quarter worth approximately $73,000. Sunbelt Securities Inc. bought a new stake in Turning Point Brands during the fourth quarter valued at approximately $96,000. Tower Research Capital LLC TRC increased its holdings in Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new position in Turning Point Brands in the fourth quarter worth approximately $201,000. 96.12% of the stock is owned by institutional investors. About Turning Point Brands (Get Free Report)Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.Read MoreFive stocks we like better than Turning Point BrandsStock Trading Terms - Stock Terms Every Investor Needs to Know3 Mid-Cap to Mega-Cap Stocks Have Announced Significant BuybacksWhat is a Dividend King? These 3 Stocks Have Huge Last 12 Months Shareholder YieldsREIT Stocks - Best REIT Stocks to Add to Your Portfolio TodayProminent Hedge Fund Acquires Huge Stake in HPE: Is It a Buy Now?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Turning Point Brands Right Now?Before you consider Turning Point Brands, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Turning Point Brands wasn't on the list.While Turning Point Brands currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here