Turning Point Brands (NYSE:TPB) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Turning Point Brands (NYSE:TPB) to a strong-buy rating in a report released on Friday morning,Zacks.com reports.

TPB has been the subject of several other reports. Roth Mkm assumed coverage on Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price for the company. StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a report on Friday, August 2nd.

Turning Point Brands Stock Performance

Shares of TPB opened at $52.53 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The stock has a 50 day moving average price of $42.95 and a two-hundred day moving average price of $37.54. The firm has a market capitalization of $930.31 million, a P/E ratio of 20.85 and a beta of 0.63. Turning Point Brands has a 52 week low of $21.19 and a 52 week high of $52.92.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 34.39% and a net margin of 11.63%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. Equities analysts forecast that Turning Point Brands will post 2.68 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is 11.11%.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of TPB. Federated Hermes Inc. grew its holdings in 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 period. Vanguard Group Inc. grew its holdings in Turning Point Brands by 6.6% during the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after acquiring an additional 79,489 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Turning Point Brands during the first quarter worth $1,661,000. Finally, Renaissance Technologies LLC lifted its position in shares of Turning Point Brands by 21.1% during the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after acquiring an additional 52,800 shares in the last quarter. 96.12% of the stock is owned by 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.