Turning Point Brands (NYSE:TPB) Shares Up 5.5% – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB)’s stock price shot up 5.5% during trading on Monday . The stock traded as high as $60.78 and last traded at $60.61. 87,551 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 182,244 shares. The stock had previously closed at $57.46.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TPB. Benchmark boosted their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Roth Mkm reissued a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Oppenheimer assumed coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Craig Hallum raised 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. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Turning Point Brands has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Performance

The firm’s fifty day moving average is $59.75 and its 200-day moving average is $48.00. 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 stock has a market capitalization of $1.06 billion, a PE ratio of 23.90 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. During the same period in the previous year, the firm earned $0.69 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

Institutional Trading of Turning Point Brands

A number of large investors have recently modified their holdings of TPB. Copeland Capital Management LLC acquired a new stake in Turning Point Brands in the third quarter valued at approximately $61,000. USA Financial Formulas purchased a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $73,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Turning Point Brands in the 2nd quarter valued at $209,000. Aigen Investment Management LP purchased a new stake in shares of Turning Point Brands during the 3rd quarter worth $221,000. Finally, Moran Wealth Management LLC purchased a new stake in Turning Point Brands during the 3rd quarter worth about $236,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.