Turning Point Brands, Inc. (NYSE:TPB) Given Average Rating of “Buy” by Brokerages

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

Several research analysts have recently commented on TPB shares. StockNews.com upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a report on Monday. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer began coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price for the company. Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Benchmark lifted 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.

Hedge Funds Weigh In On Turning Point Brands

Several large investors have recently bought and sold shares of the stock. Martingale Asset Management L P boosted its position in shares of Turning Point Brands by 1.4% in the 3rd quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock valued at $1,065,000 after purchasing an additional 329 shares during the period. Marshall Wace LLP grew its position in shares of Turning Point Brands by 0.3% during the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after acquiring an additional 367 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Turning Point Brands in the 4th 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 $61,000. Finally, Stifel Financial Corp boosted its stake in Turning Point Brands by 6.8% during the 3rd quarter. Stifel Financial Corp now owns 25,646 shares of the company’s stock worth $1,107,000 after purchasing an additional 1,634 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

TPB opened at $62.95 on Friday. The firm has a market capitalization of $1.11 billion, a PE ratio of 24.98 and a beta of 0.66. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands has a twelve month low of $21.98 and a twelve month high of $66.18. The firm’s 50-day moving average price is $59.68 and its 200 day moving average price is $48.42.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (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 during the quarter, compared to analyst estimates of $100.71 million. During the same period in the prior year, the business earned $0.69 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect 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 issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

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.