Turning Point Brands (NYSE:TPB) Earns Buy Rating from Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Turning Point Brands (NYSE:TPB) in a research note released on Tuesday,Benzinga reports. They currently have a $70.00 price target on the stock, up from their previous price target of $55.00.

Other research analysts also recently issued reports about the stock. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Craig Hallum raised their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Oppenheimer began coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target for the company. Finally, Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. 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 has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Stock Down 0.8 %

Shares of TPB stock opened at $58.72 on Tuesday. 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 $1.04 billion, a PE ratio of 23.30 and a beta of 0.66. 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’s 50-day simple moving average is $54.58 and its 200-day simple moving average is $43.19.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results 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 company had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. During the same quarter in the prior year, the company earned $0.69 EPS. Turning Point Brands’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Copeland Capital Management LLC purchased a new stake in Turning Point Brands in the 3rd quarter worth $61,000. SG Americas Securities LLC purchased a new position in Turning Point Brands during the second quarter valued at $129,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Turning Point Brands in the second 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 acquired a new position in shares of Turning Point Brands during the 3rd quarter worth about $221,000. 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.