Analysts Set Turning Point Brands, Inc. (NYSE:TPB) Price Target at $68.75

Turning Point Brands, Inc. (NYSE:TPBGet Free Report) has been given an average rating of “Buy” by the five ratings firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $68.75.

TPB has been the topic of a number of recent analyst reports. Craig Hallum raised their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Benchmark lifted their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. StockNews.com upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a report on Monday. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Roth Mkm reiterated a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th.

Read Our Latest Research Report on TPB

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Turning Point Brands by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock valued at $14,785,000 after acquiring an additional 4,600 shares during the period. XTX Topco Ltd grew its position in shares of Turning Point Brands by 16.2% in the second quarter. XTX Topco Ltd now owns 12,300 shares of the company’s stock valued at $395,000 after purchasing an additional 1,714 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Turning Point Brands in the 2nd quarter worth $212,000. Marshall Wace LLP increased its position in Turning Point Brands by 0.3% during the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after purchasing an additional 367 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Turning Point Brands by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock valued at $1,311,000 after buying an additional 10,033 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Price Performance

Shares of TPB stock opened at $60.05 on Friday. The company has a market capitalization of $1.06 billion, a P/E ratio of 23.83 and a beta of 0.66. The company’s 50-day simple moving average is $59.73 and its two-hundred day simple moving average is $48.34. Turning Point Brands has a one year low of $21.98 and a one year high of $66.18. 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 (NYSE:TPBGet Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $100.71 million. During the same period last year, the business posted $0.69 EPS. Turning Point Brands’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Turning Point Brands will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was 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 currently 11.11%.

About Turning Point Brands

(Get Free Report

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.

Featured Articles

Analyst Recommendations for Turning Point Brands (NYSE:TPB)

Receive News & Ratings for Turning Point Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Brands and related companies with MarketBeat.com's FREE daily email newsletter.