Turning Point Brands (NYSE:TPB) Upgraded 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 report issued on Friday morning.

A number of other analysts have also commented on TPB. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Craig Hallum lifted their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Roth Mkm reissued a “buy” rating and issued a $70.00 price objective (up previously from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th. Benchmark raised their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Oppenheimer started coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target for the company. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Stock Performance

NYSE:TPB opened at $60.71 on Friday. Turning Point Brands has a twelve month low of $21.98 and a twelve month high of $66.18. The company has a market capitalization of $1.07 billion, a P/E ratio of 24.09 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. The firm has a 50-day moving average price of $58.08 and a two-hundred day moving average price of $45.31.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. As a group, research analysts expect that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Copeland Capital Management LLC acquired a new stake in Turning Point Brands during the 3rd quarter worth approximately $61,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Turning Point Brands in the second quarter worth $209,000. Magnetar Financial LLC purchased a new position in shares of Turning Point Brands in the 2nd quarter valued at $212,000. Aigen Investment Management LP acquired a new position in shares of Turning Point Brands during the 3rd quarter valued at $221,000. Finally, Moran Wealth Management LLC acquired a new position in shares of Turning Point Brands during the 3rd quarter valued at $236,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

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.