Turning Point Brands (NYSE:TPB) Research Coverage Started at Oppenheimer

Oppenheimer assumed coverage on shares of Turning Point Brands (NYSE:TPB) in a report issued on Thursday morning, MarketBeat reports. The brokerage issued an outperform rating and a $65.00 target price on the stock.

A number of other analysts have also recently issued reports on the company. Roth Mkm assumed coverage on Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price objective for the company. Benchmark raised their price objective 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. StockNews.com cut Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Finally, Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Turning Point Brands presently has a consensus rating of “Buy” and an average target price of $60.00.

Turning Point Brands Stock Performance

Shares of NYSE TPB opened at $60.58 on Thursday. The stock has a 50 day moving average price of $44.60 and a 200 day moving average price of $38.38. Turning Point Brands has a 52 week low of $21.66 and a 52 week high of $61.47. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.17 and a current ratio of 4.21. The stock has a market capitalization of $1.07 billion, a PE ratio of 24.04 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts predict that Turning Point Brands will post 2.62 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

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 paid a dividend of $0.07 per share. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.46%. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the transaction, the director now owns 46,544 shares in the company, valued at $1,834,764.48. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by corporate insiders.

Institutional Trading of Turning Point Brands

A number of institutional investors have recently modified their holdings of TPB. Lazard Asset Management LLC bought a new stake in Turning Point Brands during the first quarter worth about $48,000. Copeland Capital Management LLC acquired a new position in shares of Turning Point Brands in the 3rd quarter valued at approximately $61,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Turning Point Brands during the 1st quarter worth approximately $64,000. SG Americas Securities LLC acquired a new stake in shares of Turning Point Brands during the 2nd quarter worth approximately $129,000. Finally, The Manufacturers Life Insurance Company bought a new position in Turning Point Brands in the second quarter valued at approximately $209,000. 96.12% of the stock is currently owned by institutional investors.

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.