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 research report sent to investors on Wednesday morning.

TPB has been the topic of a number of other reports. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Craig Hallum lifted their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Roth Mkm restated a “buy” rating and issued a $70.00 price target (up from $55.00) on shares of Turning Point Brands in a research report on Tuesday. Benchmark raised their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Oppenheimer assumed coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Trading Up 0.7 %

Shares of Turning Point Brands stock opened at $59.14 on Wednesday. The firm’s 50 day moving average is $54.92 and its 200 day moving average is $43.37. The firm has a market capitalization of $1.05 billion, a PE ratio of 23.47 and a beta of 0.66. Turning Point Brands has a 1 year low of $21.98 and a 1 year high of $66.18. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

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 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 during the quarter, compared to the consensus estimate of $100.71 million. During the same period in the prior year, the business earned $0.69 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The company 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

Hedge Funds Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Turning Point Brands by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock worth $14,785,000 after acquiring an additional 4,600 shares in the last quarter. Geode Capital Management LLC grew its stake in Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after purchasing an additional 15,344 shares during the period. Renaissance Technologies LLC grew its stake in 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 purchasing an additional 52,800 shares during the period. Aristides Capital LLC lifted its stake in Turning Point Brands by 6.3% in the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after buying an additional 12,041 shares during the period. Finally, Harspring Capital Management LLC boosted its holdings in shares of Turning Point Brands by 13.4% during 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 in the last quarter. Institutional investors and hedge funds 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.