Turning Point Brands, Inc. (NYSE:TPB) Receives $68.75 Average Target Price from Brokerages

Turning Point Brands, Inc. (NYSE:TPB) has been assigned a consensus rating of “Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $68.75.

TPB has been the subject of several research analyst reports. Oppenheimer initiated coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price for the company. Benchmark boosted their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Craig Hallum increased 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. Finally, StockNews.com upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday.

Institutional Investors Weigh In On Turning Point Brands

Several institutional investors have recently modified their holdings of TPB. Corsair Capital Management L.P. lifted its holdings in Turning Point Brands by 49.0% in the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock valued at $1,312,000 after purchasing an additional 10,000 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new position in shares of Turning Point Brands during the 3rd quarter worth $1,260,000. Federated Hermes Inc. boosted its holdings in shares of Turning Point Brands by 245.9% during the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after purchasing an additional 109,983 shares during the last quarter. Millennium Management LLC increased its stake in 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 purchasing an additional 22,035 shares during the last quarter. Finally, Harspring Capital Management LLC lifted its position in Turning Point Brands by 13.4% during the second quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock worth $5,824,000 after buying an additional 21,500 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Trading Up 0.1 %

Shares of NYSE:TPB opened at $60.71 on Monday. The company has a market cap of $1.07 billion, a PE ratio of 24.09 and a beta of 0.66. The company’s 50 day moving average is $58.08 and its two-hundred day moving average is $45.31. Turning Point Brands has a 52 week low of $21.98 and a 52 week high of $66.18. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (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 during the quarter, compared to the consensus estimate of $100.71 million. During the same period in the previous year, the business earned $0.69 EPS. Turning Point Brands’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business 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 dividend of $0.07 per share. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.46%. Turning Point Brands’s payout ratio is currently 11.11%.

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.