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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received a consensus rating of “Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $68.75.

A number of equities research analysts recently weighed in on TPB shares. Craig Hallum increased their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Roth Mkm restated a “buy” rating and set a $70.00 target price (up previously from $55.00) on shares of Turning Point Brands in a research note on Tuesday, December 17th. Oppenheimer assumed coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target on the stock. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Benchmark upped 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.

Turning Point Brands Stock Up 0.4 %

Turning Point Brands stock opened at $60.10 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The company’s 50-day moving average is $57.49 and its 200-day moving average is $45.01. The firm has a market capitalization of $1.06 billion, a PE ratio of 23.85 and a beta of 0.66. Turning Point Brands has a fifty-two week low of $21.98 and a fifty-two week high of $66.18.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share 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 firm had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The firm 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 of this dividend is 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 presently 11.11%.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corsair Capital Management L.P. grew its stake in Turning Point Brands by 49.0% during the third quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock worth $1,312,000 after buying an additional 10,000 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new stake in shares of Turning Point Brands during the 3rd quarter worth approximately $1,260,000. Federated Hermes Inc. boosted its position in shares of Turning Point Brands by 245.9% during the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after acquiring an additional 109,983 shares in the last quarter. Millennium Management LLC raised its position in Turning Point Brands by 14.1% during 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 in the last quarter. Finally, Harspring Capital Management LLC lifted its stake 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 purchasing an additional 21,500 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.