Turning Point Brands (NYSE:TPB) Downgraded by StockNews.com to "Buy"

StockNews.com cut shares of Turning Point Brands (NYSE:TPB - Free Report) from a strong-buy rating to a buy rating in a research report released on Thursday.

A number of other equities analysts have also recently issued reports on TPB. Benchmark restated a "buy" rating and set a $45.00 price objective on shares of Turning Point Brands in a report on Friday, August 2nd. Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a research note on Thursday, September 19th. Finally, Roth Mkm began coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They issued a "buy" rating and a $50.00 price target on the stock.

Turning Point Brands Trading Up 3.9 %

Shares of TPB traded up $1.72 during midday trading on Thursday, hitting $46.33. The stock had a trading volume of 203,385 shares, compared to its average volume of 115,075. The stock's 50 day moving average is $41.03 and its 200 day moving average is $35.81. The firm has a market cap of $816.43 million, a PE ratio of 20.41 and a beta of 0.63. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. Turning Point Brands has a 1 year low of $19.67 and a 1 year high of $47.34.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. The company had revenue of $108.51 million for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. As a group, analysts forecast that Turning Point Brands will post 2.68 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.60%. Turning Point Brands's payout ratio is currently 12.33%.

Insider Buying and Selling at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the 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 transaction, the director now owns 46,544 shares of the company's stock, valued at approximately $1,834,764.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in shares of Turning Point Brands during the 1st quarter worth $1,587,000. Lord Abbett & CO. LLC lifted 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 valued at $7,481,000 after buying an additional 79,489 shares during the last quarter. Boston Partners bought a new stake in shares of Turning Point Brands in the 1st quarter valued at about $964,000. Tidal Investments LLC purchased a new position in shares of Turning Point Brands in the 1st quarter worth approximately $1,661,000. Finally, Vanguard Group Inc. raised its stake 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 worth $43,865,000 after acquiring an additional 92,147 shares in the last quarter. 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.