Turning Point Brands (NYSE:TPB) Rating Increased to Buy at StockNews.com

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

A number of other research analysts also recently issued reports on the company. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Oppenheimer assumed coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price for the company. Benchmark upped their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Craig Hallum raised their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target (up previously from $55.00) on shares of Turning Point Brands in a research report on Tuesday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Stock Down 2.3 %

Shares of NYSE:TPB opened at $59.19 on Wednesday. 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 stock has a fifty day simple moving average of $54.23 and a two-hundred day simple moving average of $43.08. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.49 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. During the same quarter in the previous year, the firm earned $0.69 EPS. Turning Point Brands’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TPB. 272 Capital LP bought a new stake in Turning Point Brands during the 3rd quarter worth approximately $1,488,000. Barclays PLC raised its position in shares of Turning Point Brands by 298.6% during the 3rd quarter. Barclays PLC now owns 29,274 shares of the company’s stock valued at $1,262,000 after purchasing an additional 21,930 shares during the period. Geode Capital Management LLC raised its position in shares of Turning Point Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after purchasing an additional 15,344 shares during the period. First Sabrepoint Capital Management LP purchased a new position in shares of Turning Point Brands during the 3rd quarter valued at $7,517,000. Finally, Jane Street Group LLC boosted its holdings in Turning Point Brands by 9.9% in the 3rd quarter. Jane Street Group LLC now owns 29,228 shares of the company’s stock worth $1,261,000 after buying an additional 2,637 shares during the period. 96.12% of the stock is currently owned by institutional investors.

About Turning Point Brands

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.