Turning Point Brands’ (TPB) Buy Rating Reiterated at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Turning Point Brands (NYSE:TPB) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $70.00 target price on the stock.

TPB has been the topic of several other research reports. StockNews.com upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Oppenheimer began coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective on the stock. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark upped their price target 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. Finally, Craig Hallum raised their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $68.75.

Turning Point Brands Trading Down 2.2 %

Shares of TPB opened at $55.16 on Friday. Turning Point Brands has a fifty-two week low of $21.98 and a fifty-two week high of $66.18. The business has a 50-day moving average of $58.98 and a 200 day moving average of $46.34. The firm has a market cap of $976.17 million, a P/E ratio of 21.89 and a beta of 0.66. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share 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 net margin of 11.63% and a return on equity of 33.14%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.69 earnings per share. As a group, research analysts forecast that Turning Point Brands will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, December 20th. Turning Point Brands’s payout ratio is 11.11%.

Institutional Trading of Turning Point Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Corsair Capital Management L.P. increased its stake in Turning Point Brands by 49.0% in the third quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock valued at $1,312,000 after acquiring an additional 10,000 shares during the last quarter. Pekin Hardy Strauss Inc. purchased a new position in shares of Turning Point Brands in the 3rd quarter worth about $1,260,000. Federated Hermes Inc. increased its position in shares of Turning Point Brands by 245.9% during the 2nd 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. Millennium Management LLC raised its holdings in shares of Turning Point Brands by 14.1% during the 2nd 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 in the last quarter. Finally, Harspring Capital Management LLC lifted its position in Turning Point Brands by 13.4% in the 2nd quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock worth $5,824,000 after buying an additional 21,500 shares during the last quarter. 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.