Turning Point Brands (NYSE:TPB) Downgraded to “Hold” Rating by StockNews.com

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

A number of other research firms have also weighed in on TPB. Oppenheimer initiated coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective for the company. Benchmark boosted their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Craig Hallum raised their price objective on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Roth Mkm reiterated a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $55.84 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The business’s fifty day moving average price is $59.28 and its two-hundred day moving average price is $46.67. The stock has a market cap of $988.20 million, a PE ratio of 22.16 and a beta of 0.66. Turning Point Brands has a one year low of $21.98 and a one year high of $66.18.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating 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 analyst estimates of $100.71 million. During the same quarter last year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts forecast that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were issued a $0.07 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.50%. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

Institutional Trading of Turning Point Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Turning Point Brands in the fourth quarter valued at $73,000. Copeland Capital Management LLC acquired a new position in shares of Turning Point Brands in the 3rd quarter valued at about $61,000. Aigen Investment Management LP acquired a new position in shares of Turning Point Brands in the 3rd quarter valued at about $221,000. Moran Wealth Management LLC purchased a new stake in shares of Turning Point Brands during the 3rd quarter worth about $236,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Turning Point Brands during the 2nd quarter worth approximately $209,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.