Turning Point Brands, Inc. (NYSE:TPB) Given Consensus Recommendation of “Buy” by Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been assigned a consensus rating of “Buy” from the five brokerages that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $68.75.

A number of equities analysts have weighed in on TPB shares. 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 Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark boosted their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Roth Mkm reissued a “buy” rating and issued a $70.00 target price (up from $55.00) on shares of Turning Point Brands in a research note on Tuesday, December 17th. Finally, Craig Hallum lifted their price target 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.

Institutional Investors Weigh In On Turning Point Brands

Several large investors have recently bought and sold shares of the business. First Sabrepoint Capital Management LP bought a new position in Turning Point Brands during the 3rd quarter valued at about $7,517,000. Federated Hermes Inc. raised its holdings in shares of Turning Point Brands by 245.9% during the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after purchasing an additional 109,983 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Turning Point Brands by 84.5% during the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock valued at $5,311,000 after purchasing an additional 56,364 shares during the period. Renaissance Technologies LLC boosted its holdings in Turning Point Brands by 21.1% in the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after purchasing an additional 52,800 shares during the last quarter. Finally, 272 Capital LP bought a new stake in Turning Point Brands in the 3rd quarter worth approximately $1,488,000. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Trading Up 0.3 %

NYSE TPB opened at $59.84 on Monday. The firm has a market capitalization of $1.06 billion, a PE ratio of 23.75 and a beta of 0.66. The stock’s 50 day moving average is $56.54 and its 200 day moving average is $44.49. 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 announced its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. Research analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s payout ratio is currently 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.