Turning Point Brands (NYSE:TPB) Upgraded at StockNews.com

StockNews.com upgraded shares of Turning Point Brands (NYSE:TPB) from a hold rating to a buy rating in a report published on Monday.

Other analysts have also recently issued research reports about the stock. Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. 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 price target on the stock. Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a research note on Friday, January 10th. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Craig Hallum boosted their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $59.94 on Monday. 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 company has a fifty day simple moving average of $59.73 and a 200-day simple moving average of $48.34. The stock has a market cap of $1.06 billion, a P/E ratio of 23.79 and a beta of 0.66. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. During the same period in the previous year, the business earned $0.69 EPS. Turning Point Brands’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities 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 was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Friday, December 20th. Turning Point Brands’s payout ratio is currently 11.11%.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. USA Financial Formulas acquired a new position in Turning Point Brands in the 4th quarter valued at $73,000. Copeland Capital Management LLC purchased a new stake in shares of Turning Point Brands in the third quarter valued at about $61,000. Entropy Technologies LP acquired a new position in shares of Turning Point Brands during the fourth quarter worth about $234,000. Legato Capital Management LLC purchased a new position in Turning Point Brands during the fourth quarter worth about $278,000. Finally, Aigen Investment Management LP purchased a new position in Turning Point Brands during the third quarter worth about $221,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

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.