Roth Mkm Reaffirms “Buy” Rating for Turning Point Brands (NYSE:TPB)

Roth Mkm reiterated their buy rating on shares of Turning Point Brands (NYSE:TPB) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $70.00 price target on the stock, up from their previous price target of $55.00.

Several other research analysts have also weighed in on the company. Craig Hallum increased their price objective on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer began coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target for the company. Finally, Benchmark lifted their target price 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. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $68.75.

Turning Point Brands Trading Down 0.3 %

TPB opened at $60.61 on Tuesday. Turning Point Brands has a 1-year low of $21.98 and a 1-year 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 capitalization of $1.07 billion, a price-to-earnings ratio of 24.05 and a beta of 0.66. The company’s 50 day simple moving average is $53.49 and its two-hundred day simple moving average is $42.77.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $100.71 million. During the same quarter in the previous year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts expect that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s payout ratio is presently 11.11%.

Institutional Trading of Turning Point Brands

A number of large investors have recently made changes to their positions in TPB. Copeland Capital Management LLC purchased a new position in Turning Point Brands in the third quarter worth approximately $61,000. SG Americas Securities LLC acquired a new position in shares of Turning Point Brands during the 2nd quarter worth about $129,000. Aigen Investment Management LP purchased a new position in shares of Turning Point Brands in the 3rd quarter valued at about $221,000. Moran Wealth Management LLC acquired a new stake in shares of Turning Point Brands during the 3rd quarter worth about $236,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Turning Point Brands in the second quarter valued at approximately $209,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

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.