Turning Point Brands, Inc. (NYSE:TPB) Sees Significant Increase in Short Interest

Turning Point Brands, Inc. (NYSE:TPB) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 272,800 shares, an increase of 62.7% from the November 30th total of 167,700 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily volume of 171,000 shares, the days-to-cover ratio is currently 1.6 days.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TPB shares. Craig Hallum upped their target price 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 Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark boosted their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. 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 on the stock. Finally, StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $68.75.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC acquired a new position in shares of Turning Point Brands during the third quarter valued at $61,000. The Manufacturers Life Insurance Company bought a new stake in Turning Point Brands in the 2nd quarter valued at about $209,000. Magnetar Financial LLC acquired a new position in Turning Point Brands during the 2nd quarter valued at about $212,000. Aigen Investment Management LP bought a new position in Turning Point Brands in the 3rd quarter worth about $221,000. Finally, Moran Wealth Management LLC bought a new position in Turning Point Brands in the 3rd quarter worth about $236,000. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded up $0.18 on Friday, reaching $59.84. 150,650 shares of the company’s stock were exchanged, compared to its average volume of 130,620. The business’s 50-day moving average is $56.20 and its two-hundred day moving average is $44.12. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. Turning Point Brands has a fifty-two week low of $21.98 and a fifty-two week high of $66.18. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 23.75 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last released 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. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. Turning Point Brands’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Turning Point Brands will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.47%. Turning Point Brands’s dividend payout ratio is currently 11.11%.

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.