Turning Point Brands (NYSE:TPB) Cut to “Hold” at StockNews.com

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

Several other research analysts also recently issued reports on the company. Oppenheimer began coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target for the company. Benchmark raised their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Craig Hallum raised their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Roth Mkm restated a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. One equities research 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 company’s stock. According to MarketBeat, Turning Point Brands currently has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Trading Up 0.1 %

Shares of Turning Point Brands stock opened at $56.48 on Tuesday. The company has a 50-day moving average of $59.52 and a two-hundred day moving average of $46.81. Turning Point Brands has a 12-month low of $21.98 and a 12-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 stock has a market cap of $999.53 million, a PE ratio of 22.41 and a beta of 0.66.

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. The business had revenue of $105.62 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $0.69 EPS. On average, research analysts anticipate that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.50%. Turning Point Brands’s dividend payout ratio is currently 11.11%.

Hedge Funds Weigh In On Turning Point Brands

Institutional investors have recently modified their holdings of the company. Copeland Capital Management LLC acquired a new stake in Turning Point Brands during the third quarter worth approximately $61,000. USA Financial Formulas purchased a new position in shares of Turning Point Brands during the 4th quarter worth $73,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Turning Point Brands during the second quarter worth $209,000. Magnetar Financial LLC acquired a new stake in shares of Turning Point Brands during the second quarter worth $212,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Turning Point Brands in the third quarter valued at $221,000. 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.