Turning Point Brands, Inc. (NYSE:TPB) Receives $68.75 Consensus Target Price from Analysts

Turning Point Brands, Inc. (NYSE:TPB) has been given a consensus recommendation of “Buy” by the five brokerages that are covering the company, Marketbeat reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $68.75.

A number of equities research analysts have commented on TPB shares. StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. 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 report on Thursday, December 5th. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Benchmark lifted their price target 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.

Hedge Funds Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of 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 acquiring an additional 4,600 shares during the period. Geode Capital Management LLC lifted its position in Turning Point Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after acquiring an additional 15,344 shares during the period. Aristides Capital LLC grew its stake in shares of Turning Point Brands by 6.3% in the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after purchasing an additional 12,041 shares during the last quarter. Millennium Management LLC raised its stake in shares of Turning Point Brands by 14.1% during the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after purchasing an additional 22,035 shares during the last quarter. Finally, First Sabrepoint Capital Management LP acquired a new position in Turning Point Brands in the 3rd quarter valued at $7,517,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

NYSE:TPB opened at $57.50 on Friday. 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 business has a 50 day simple moving average of $59.75 and a 200-day simple moving average of $48.00. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 22.82 and a beta of 0.66. Turning Point Brands has a 1 year low of $21.98 and a 1 year high of $66.18.

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

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Friday, December 20th. Turning Point Brands’s payout ratio is currently 11.11%.

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.