Turning Point Brands (NYSE:TPB) Given New $65.00 Price Target at Benchmark

Turning Point Brands (NYSE:TPB) had its price objective hoisted by Benchmark from $45.00 to $65.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

TPB has been the subject of several other reports. StockNews.com cut Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $60.00.

Turning Point Brands Trading Up 4.4 %

TPB stock opened at $60.59 on Tuesday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 24.04 and a beta of 0.63. The company has a fifty day moving average price of $44.18 and a two-hundred day moving average price of $38.16. Turning Point Brands has a one year low of $21.66 and a one year high of $61.47. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.17.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. Turning Point Brands’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 EPS. Equities analysts anticipate that Turning Point Brands will post 2.62 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. Shareholders of record on Friday, December 20th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.46%. Turning Point Brands’s payout ratio is 11.11%.

Insider Buying and Selling

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Turning Point Brands by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after acquiring an additional 92,147 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Turning Point Brands by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock worth $14,785,000 after buying an additional 4,600 shares during the period. Renaissance Technologies LLC increased its position in Turning Point Brands by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after acquiring an additional 52,800 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after purchasing an additional 79,489 shares during the period. Finally, Aristides Capital LLC increased its holdings in Turning Point Brands by 6.3% in the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after purchasing an additional 12,041 shares during the period. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.