Turning Point Brands (NYSE:TPB) Raised 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 report report published on Monday morning.

Other research analysts also recently issued research reports about the stock. Roth Mkm reiterated a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. Oppenheimer began coverage on Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Craig Hallum lifted their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Benchmark upped 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. Finally, Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Stock Performance

Turning Point Brands stock opened at $60.48 on Monday. The stock’s 50 day moving average is $59.75 and its 200 day moving average is $48.00. The company has a market capitalization of $1.07 billion, a P/E ratio of 24.00 and a beta of 0.66. Turning Point Brands has a twelve month low of $21.98 and a twelve month high of $66.18. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The firm 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 company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. On average, equities research analysts predict that Turning Point Brands will post 2.59 earnings per share 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. Stockholders of record on Friday, December 20th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.46%. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

Institutional Trading of Turning Point Brands

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Turning Point Brands by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock valued at $14,785,000 after purchasing an additional 4,600 shares during the period. Geode Capital Management LLC grew its position in Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after buying an additional 15,344 shares during the period. Aristides Capital LLC increased its holdings in Turning Point Brands by 6.3% during the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after buying an additional 12,041 shares during the last quarter. Millennium Management LLC increased its holdings in Turning Point Brands by 14.1% during the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after buying an additional 22,035 shares during the last quarter. Finally, First Sabrepoint Capital Management LP bought a new position in Turning Point Brands in the third quarter worth approximately $7,517,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.