Turning Point Brands (NYSE:TPB) Stock Rating Upgraded by StockNews.com

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

Other equities analysts have also issued reports about the company. Craig Hallum increased their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Benchmark increased their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and set a $70.00 price objective (up previously from $55.00) on shares of Turning Point Brands in a research report on Tuesday. Finally, Oppenheimer started 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 for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Trading Down 2.3 %

Turning Point Brands stock opened at $59.19 on Wednesday. Turning Point Brands has a 1 year low of $21.98 and a 1 year high of $66.18. The firm’s 50 day moving average price is $54.23 and its 200-day moving average price is $43.08. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The stock has a market cap of $1.05 billion, a P/E ratio of 23.49 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 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 company 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 posted $0.69 EPS. Turning Point Brands’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Turning Point Brands by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock worth $14,785,000 after buying an additional 4,600 shares during the period. Geode Capital Management LLC increased its stake in Turning Point Brands by 3.9% in 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 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 purchasing an additional 52,800 shares during the last quarter. Aristides Capital LLC grew its holdings in shares of Turning Point Brands by 6.3% in the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock worth $6,514,000 after purchasing an additional 12,041 shares during the last quarter. Finally, Harspring Capital Management LLC increased its stake in Turning Point Brands by 13.4% in 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 during the period. Hedge funds and other institutional investors 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.