Turning Point Brands (NYSE:TPB) Given Buy Rating at Roth Mkm

Roth Mkm reissued their buy rating on shares of Turning Point Brands (NYSE:TPB) in a report published on Friday,Benzinga reports. They currently have a $70.00 target price on the stock.

Several other brokerages also recently issued reports on TPB. StockNews.com upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Oppenheimer started coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price for the company. Craig Hallum boosted their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Benchmark lifted their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Five equities research 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 stock currently has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Stock Performance

NYSE TPB opened at $55.16 on Friday. 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 firm has a market capitalization of $976.17 million, a P/E ratio of 21.89 and a beta of 0.66. The business’s 50-day simple moving average is $58.98 and its 200-day simple moving average is $46.14.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $100.71 million. During the same period in the previous year, the company posted $0.69 earnings per share. Turning Point Brands’s revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Turning Point Brands will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, December 20th. Turning Point Brands’s payout ratio is 11.11%.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. Copeland Capital Management LLC acquired a new stake in Turning Point Brands in the third quarter valued at $61,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Turning Point Brands in the 2nd quarter valued at about $209,000. Magnetar Financial LLC acquired a new stake in shares of Turning Point Brands in the 2nd quarter valued at about $212,000. Aigen Investment Management LP bought a new position in shares of Turning Point Brands during the third quarter worth about $221,000. Finally, Moran Wealth Management LLC acquired a new position in Turning Point Brands in the third quarter worth about $236,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

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.