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

Turning Point Brands (NYSE:TPB - Free Report) had its price target lifted by Benchmark from $45.00 to $65.00 in a research note published on Tuesday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

TPB has been the subject of several other research reports. Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a research report on Friday. Roth Mkm initiated coverage on Turning Point Brands in a research note on Thursday, September 19th. They set a "buy" rating and a $50.00 price objective on the stock. Finally, StockNews.com cut Turning Point Brands from a "strong-buy" rating to a "buy" rating in a research note on Thursday, October 24th.

Turning Point Brands Trading Up 4.4 %

Shares of TPB stock traded up $2.33 during trading hours on Tuesday, hitting $54.83. 147,334 shares of the company were exchanged, compared to its average volume of 118,074. The company has a 50 day simple moving average of $43.21 and a two-hundred day simple moving average of $37.71. Turning Point Brands has a fifty-two week low of $21.19 and a fifty-two week high of $55.13. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The firm has a market cap of $971.04 million, a P/E ratio of 21.41 and a beta of 0.63.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted 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 34.39%. The business had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. During the same quarter last year, the firm posted $0.69 EPS. Turning Point Brands's revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Turning Point Brands will post 2.68 EPS for the current year.

Turning Point Brands Announces Dividend

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

Insider Transactions at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the sale, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Turning Point Brands

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in 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 buying an additional 92,147 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Turning Point Brands by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company's stock worth $14,785,000 after acquiring an additional 4,600 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Turning Point Brands by 21.1% in the second 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 grew its position 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 in the last quarter. Finally, Aristides Capital LLC boosted its holdings in shares of Turning Point Brands by 6.3% in the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company's stock worth $6,514,000 after purchasing an additional 12,041 shares during the period. Hedge funds and other institutional investors own 96.12% of the company's stock.

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.