Turning Point Brands’ (TPB) “Buy” Rating Reiterated at Roth Mkm

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

Several other brokerages have also commented on TPB. Benchmark raised their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer began coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Craig Hallum increased 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 note on Thursday, December 5th. Finally, StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Trading Down 0.8 %

Shares of TPB opened at $58.72 on Tuesday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 23.30 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 has a 1-year low of $21.98 and a 1-year high of $66.18. The company has a 50-day moving average of $54.58 and a 200 day moving average of $43.19.

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

Turning Point Brands Dividend Announcement

The company 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 payout ratio is currently 11.11%.

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of TPB. Copeland Capital Management LLC acquired a new position in shares of Turning Point Brands during the third quarter worth $61,000. SG Americas Securities LLC purchased a new stake in Turning Point Brands in the second quarter valued at about $129,000. The Manufacturers Life Insurance Company acquired a new stake in Turning Point Brands in the second quarter worth 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 third quarter valued at about $221,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

About Turning Point Brands

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.