Turning Point Brands (NYSE:TPB) Stock Price Expected to Rise, Benchmark Analyst Says

Turning Point Brands (NYSE:TPB) had its price objective hoisted by Benchmark from $45.00 to $65.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on TPB. StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Roth Mkm assumed coverage on Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $60.00.

Turning Point Brands Stock Performance

TPB stock opened at $60.59 on Tuesday. Turning Point Brands has a 1-year low of $21.66 and a 1-year high of $61.47. The company has a current ratio of 4.21, a quick ratio of 1.17 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $44.18 and a 200-day moving average price of $38.16. The firm has a market cap of $1.07 billion, a PE ratio of 24.04 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The firm had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 earnings per share. As a group, equities research analysts expect that Turning Point Brands will post 2.62 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s payout ratio is presently 11.11%.

Insider Activity at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the sale, the director now directly owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. This represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is owned by insiders.

Institutional Trading of Turning Point Brands

Several institutional investors have recently made changes to their positions in the company. Martingale Asset Management L P boosted its stake in shares of Turning Point Brands by 1.4% in the 3rd quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock worth $1,065,000 after buying an additional 329 shares during the last quarter. Marshall Wace LLP boosted its position in Turning Point Brands by 0.3% in the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after purchasing an additional 367 shares during the last quarter. Principal Financial Group Inc. grew its stake in Turning Point Brands by 8.9% in the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after purchasing an additional 693 shares during the period. Access Investment Management LLC increased its position in shares of Turning Point Brands by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock valued at $3,895,000 after purchasing an additional 745 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Turning Point Brands by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock worth $371,000 after purchasing an additional 800 shares during the period. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

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.