Turning Point Brands (NYSE:TPB) Trading Up 5.5% – Here’s Why

Turning Point Brands, Inc. (NYSE:TPB) shot up 5.5% during trading on Monday . The stock traded as high as $60.78 and last traded at $60.61. 87,551 shares changed hands during trading, a decline of 52% from the average session volume of 182,244 shares. The stock had previously closed at $57.46.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Craig Hallum boosted their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Benchmark lifted their target price 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. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer started coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $68.75.

Turning Point Brands Price Performance

The firm has a 50-day moving average of $59.73 and a 200-day moving average of $48.34. The stock has a market cap of $1.06 billion, a PE ratio of 23.79 and a beta of 0.66. 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 released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $100.71 million. During the same quarter last year, the business posted $0.69 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were given a dividend of $0.07 per share. The ex-dividend date was Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.47%. Turning Point Brands’s payout ratio is 11.11%.

Institutional Investors Weigh In On Turning Point Brands

Several large investors have recently bought and sold shares of TPB. Dimensional Fund Advisors LP boosted its holdings in shares of Turning Point Brands by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock worth $14,785,000 after purchasing an additional 4,600 shares during the period. Marshall Wace LLP lifted its position in Turning Point Brands by 0.3% in the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after buying an additional 367 shares during the last quarter. AQR Capital Management LLC increased its position in Turning Point Brands by 32.5% during the second quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock valued at $1,311,000 after acquiring an additional 10,033 shares during the last quarter. Millennium Management LLC raised its stake in shares of Turning Point Brands by 14.1% in the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after acquiring an additional 22,035 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Turning Point Brands in the 2nd quarter worth about $209,000. 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.