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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been given an average rating of “Buy” by the four brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $60.00.

Several equities analysts have commented on the stock. Oppenheimer started 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 on the stock. 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 note on Thursday. StockNews.com downgraded Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Benchmark upped their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

Turning Point Brands Stock Performance

NYSE:TPB traded up $0.90 during midday trading on Thursday, reaching $64.17. 150,350 shares of the company traded hands, compared to its average volume of 125,834. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands has a twelve month low of $21.98 and a twelve month high of $66.18. The company has a fifty day moving average price of $50.20 and a 200 day moving average price of $41.03. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 25.52 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter last year, the business earned $0.69 earnings per share. Turning Point Brands’s revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.44%. Turning Point Brands’s dividend payout ratio is 11.11%.

Institutional Trading of Turning Point Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Corsair Capital Management L.P. boosted its position in shares of Turning Point Brands by 49.0% during the 3rd 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after buying an additional 92,147 shares in the last quarter. Pekin Hardy Strauss Inc. acquired a new position in shares of Turning Point Brands in the 3rd quarter worth approximately $1,260,000. Federated Hermes Inc. lifted 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 worth $4,965,000 after buying an additional 109,983 shares during the period. Finally, Millennium Management LLC raised its stake in Turning Point Brands by 14.1% during the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after acquiring an additional 22,035 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.