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 released on Friday.

Several other research firms also recently commented on TPB. Benchmark lifted their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Craig Hallum boosted their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Roth Mkm restated a “buy” rating and issued a $70.00 target price (up previously from $55.00) on shares of Turning Point Brands in a report on Tuesday, December 17th. Finally, Oppenheimer started coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Up 0.1 %

Shares of TPB opened at $60.71 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of 24.09 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 stock has a 50 day simple moving average of $58.08 and a two-hundred day simple moving average of $45.40. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data 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. The company had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm 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 of this dividend is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.46%. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

Institutional Trading of Turning Point Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC purchased a new position in Turning Point Brands during the 3rd quarter valued at $61,000. Aigen Investment Management LP bought a new stake in shares of Turning Point Brands during the 3rd quarter valued at about $221,000. Moran Wealth Management LLC purchased a new position in shares of Turning Point Brands during the third quarter valued at about $236,000. The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands during the second quarter valued at about $209,000. Finally, Magnetar Financial LLC purchased a new stake in Turning Point Brands in the second quarter worth about $212,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.