Turning Point Brands, Inc. (NYSE:TPB) Receives Average Rating of “Buy” from Brokerages

Turning Point Brands, Inc. (NYSE:TPB) has been given a consensus recommendation of “Buy” by the five ratings firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $68.75.

TPB has been the subject of a number of analyst reports. Benchmark increased their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Friday. Roth Mkm reiterated a “buy” rating and set a $70.00 price objective (up from $55.00) on shares of Turning Point Brands in a research note on Tuesday, December 17th. Oppenheimer started coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, 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 report on Thursday, December 5th.

Turning Point Brands Stock Up 0.1 %

Shares of NYSE:TPB opened at $60.71 on Monday. 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 200-day simple moving average of $45.31. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The stock 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 issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.46%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is 11.11%.

Institutional Trading of Turning Point Brands

Several hedge funds have recently added to or reduced their stakes in TPB. Martingale Asset Management L P increased its stake in shares of Turning Point Brands by 1.4% during the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock valued at $1,065,000 after acquiring an additional 329 shares during the period. Marshall Wace LLP boosted its stake in Turning Point Brands by 0.3% during the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock valued at $3,849,000 after buying an additional 367 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Turning Point Brands by 8.9% during the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock worth $271,000 after acquiring an additional 693 shares during the period. Copeland Capital Management LLC acquired a new stake in Turning Point Brands in the 3rd quarter valued at about $61,000. Finally, Stifel Financial Corp boosted its position in shares of Turning Point Brands by 6.8% during the 3rd quarter. Stifel Financial Corp now owns 25,646 shares of the company’s stock valued at $1,107,000 after purchasing an additional 1,634 shares in the last quarter. 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.