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 released on Friday.

TPB has been the subject of several other reports. Craig Hallum raised their price objective 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. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price target (up from $55.00) on shares of Turning Point Brands in a report on Tuesday, December 17th. Benchmark boosted their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Oppenheimer began coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Performance

NYSE:TPB opened at $60.71 on Friday. Turning Point Brands has a 1 year low of $21.98 and a 1 year high of $66.18. 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 business has a fifty day simple moving average of $58.08 and a two-hundred day simple moving average of $45.40. The company has a market capitalization of $1.07 billion, a P/E ratio of 24.09 and a beta of 0.66.

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

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors 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 yield of 0.46%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s payout ratio is 11.11%.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. First Sabrepoint Capital Management LP bought a new position in shares of Turning Point Brands in the third quarter worth approximately $7,517,000. Federated Hermes Inc. grew its stake in Turning Point Brands by 245.9% in 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 in the last quarter. JPMorgan Chase & Co. grew its stake in Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after buying an additional 56,364 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Turning Point Brands by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after buying an additional 52,800 shares during the last quarter. Finally, 272 Capital LP purchased a new stake in shares of Turning Point Brands during the 3rd quarter valued at $1,488,000. 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.