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

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

Several other equities analysts have also weighed in on TPB. Oppenheimer assumed coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Roth Mkm initiated coverage on Turning Point Brands in a research note on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price on the stock. Benchmark upped their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Craig Hallum boosted their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $63.75.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $63.88 on Tuesday. The firm has a 50 day simple moving average of $51.89 and a 200 day simple moving average of $41.95. Turning Point Brands has a fifty-two week low of $21.98 and a fifty-two week high of $66.18. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The firm has a market cap of $1.13 billion, a P/E ratio of 25.35 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last released its 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. The company had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. Sell-side analysts predict that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.44%. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

Institutional Investors Weigh In On Turning Point Brands

Large investors have recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new stake in shares of Turning Point Brands in the third quarter valued at about $61,000. SG Americas Securities LLC acquired a new stake in shares of Turning Point Brands in the second quarter valued at about $129,000. The Manufacturers Life Insurance Company bought a new stake in Turning Point Brands during the second quarter worth about $209,000. Magnetar Financial LLC acquired a new position in Turning Point Brands during the second quarter valued at approximately $212,000. Finally, Aigen Investment Management LP bought a new position in Turning Point Brands in the third quarter valued at approximately $221,000. 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.