Turning Point Brands (NYSE:TPB) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Turning Point Brands (NYSE:TPB) to a strong-buy rating in a research note released on Thursday, Zacks.com reports.

A number of other research firms have also commented on TPB. Benchmark reaffirmed a buy rating and issued a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd. Roth Mkm started coverage on Turning Point Brands in a report on Thursday. They set a buy rating and a $50.00 price objective on the stock.

Turning Point Brands Trading Up 6.8 %

Shares of Turning Point Brands stock opened at $41.69 on Thursday. The stock has a market capitalization of $738.33 million, a P/E ratio of 18.37 and a beta of 0.62. Turning Point Brands has a 52-week low of $19.67 and a 52-week high of $41.89. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The stock’s 50-day simple moving average is $38.32 and its 200 day simple moving average is $33.29.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. The firm had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, September 13th. Turning Point Brands’s dividend payout ratio is presently 12.33%.

Insider Buying and Selling at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in shares of Turning Point Brands during the 1st quarter valued at about $48,000. Allspring Global Investments Holdings LLC bought a new stake in Turning Point Brands during the first quarter valued at approximately $64,000. Quest Partners LLC purchased a new position in Turning Point Brands in the 4th quarter worth approximately $65,000. SG Americas Securities LLC purchased a new position in Turning Point Brands in the 2nd quarter worth approximately $129,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Turning Point Brands in the 2nd quarter worth $209,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

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.