Turning Point Brands (NYSE:TPB) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Turning Point Brands (NYSE:TPB) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other equities research analysts have also commented on the stock. 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 research note on Thursday, December 5th. Roth Mkm restated a “buy” rating and issued a $70.00 target price (up from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer initiated coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, Benchmark upped their price objective 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. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $68.75.

Turning Point Brands Trading Up 1.1 %

Shares of NYSE TPB opened at $59.66 on Thursday. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 23.67 and a beta of 0.66. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The stock’s 50 day simple moving average is $55.88 and its 200 day simple moving average is $44.01.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) 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 company 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 company posted $0.69 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities 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 issued a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. Turning Point Brands’s dividend payout ratio (DPR) is 11.11%.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of Turning Point Brands by 1.0% during 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 last quarter. Geode Capital Management LLC raised its position in shares of Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after purchasing an additional 15,344 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Turning Point Brands by 21.1% during the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after purchasing an additional 52,800 shares during the last quarter. Aristides Capital LLC lifted its holdings in shares of Turning Point Brands by 6.3% during 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 last quarter. Finally, Harspring Capital Management LLC boosted its position in shares of Turning Point Brands by 13.4% in the 2nd quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock valued at $5,824,000 after purchasing an additional 21,500 shares during the period. 96.12% of the stock is 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.