Turning Point Brands, Inc. (NYSE:TPB) Given Average Recommendation of “Buy” by Analysts

Turning Point Brands, Inc. (NYSE:TPB) has been given an average recommendation of “Buy” by the four research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $60.00.

A number of equities research analysts have recently weighed in on TPB shares. Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Oppenheimer began coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective for the company. Craig Hallum upped their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. Finally, Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th.

Turning Point Brands Stock Performance

TPB traded up $0.90 on Thursday, reaching $64.17. 150,350 shares of the stock were exchanged, compared to its average volume of 125,834. 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 company’s 50-day moving average price is $50.20 and its 200 day moving average price is $41.03. The firm has a market capitalization of $1.14 billion, a PE ratio of 25.52 and a beta of 0.66. Turning Point Brands has a fifty-two week low of $21.98 and a fifty-two week high of $66.18.

Turning Point Brands (NYSE:TPB) last posted its 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 business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same period in the prior year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors 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 dividend on an annualized basis and a yield of 0.44%. Turning Point Brands’s payout ratio is 11.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Copeland Capital Management LLC purchased a new stake in shares of Turning Point Brands during the third quarter valued at approximately $61,000. SG Americas Securities LLC purchased a new stake in Turning Point Brands during the 2nd quarter worth $129,000. The Manufacturers Life Insurance Company purchased a new position in Turning Point Brands in the 2nd quarter valued at about $209,000. Magnetar Financial LLC purchased a new stake in shares of Turning Point Brands during the second quarter worth about $212,000. Finally, Aigen Investment Management LP purchased a new position in shares of Turning Point Brands during the 3rd quarter valued at approximately $221,000. 96.12% of the stock is owned by institutional investors and hedge funds.

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.