StockNews.com Upgrades Turning Point Brands (NYSE:TPB) to Buy

StockNews.com upgraded shares of Turning Point Brands (NYSE:TPB) from a hold rating to a buy rating in a report released on Monday morning.

A number of other research analysts have also recently weighed in on TPB. Oppenheimer assumed coverage on Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target for the company. Roth Mkm restated a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Craig Hallum upped their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Turning Point Brands has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Trading Down 0.4 %

Shares of TPB opened at $59.94 on Monday. Turning Point Brands has a twelve month low of $21.98 and a twelve month high of $66.18. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $1.06 billion, a P/E ratio of 23.79 and a beta of 0.66. The firm’s 50-day moving average is $59.73 and its two-hundred day moving average is $48.34.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. During the same quarter in the prior year, the firm posted $0.69 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Friday, December 20th. Turning Point Brands’s dividend payout ratio is presently 11.11%.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds have recently made changes to their positions in TPB. Dimensional Fund Advisors LP increased its stake in Turning Point Brands by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock valued at $14,785,000 after purchasing an additional 4,600 shares during the last quarter. Geode Capital Management LLC grew its holdings in Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after buying an additional 15,344 shares during the period. Aristides Capital LLC increased its stake in shares of Turning Point Brands by 6.3% during the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after acquiring an additional 12,041 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Turning Point Brands by 14.1% during the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after acquiring an additional 22,035 shares during the period. Finally, First Sabrepoint Capital Management LP acquired a new stake in shares of Turning Point Brands in the third quarter worth approximately $7,517,000. Institutional investors and hedge funds 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.