Turning Point Brands (NYSE:TPB) Now Covered by Oppenheimer

Oppenheimer began coverage on shares of Turning Point Brands (NYSE:TPB - Free Report) in a research note published on Thursday, Marketbeat reports. The brokerage issued an outperform rating and a $65.00 price target on the stock.

TPB has been the topic of several other research reports. Roth Mkm assumed coverage on shares of Turning Point Brands in a research note on Thursday, September 19th. They set a "buy" rating and a $50.00 target price on the stock. Benchmark increased their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday. StockNews.com downgraded Turning Point Brands from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 24th. Finally, Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $60.00.

Turning Point Brands Price Performance

Shares of TPB stock traded up $3.67 during trading hours on Thursday, reaching $58.67. The stock had a trading volume of 262,306 shares, compared to its average volume of 119,348. The stock's fifty day simple moving average is $43.81 and its 200 day simple moving average is $38.02. The company has a current ratio of 4.21, a quick ratio of 1.17 and a debt-to-equity ratio of 1.33. Turning Point Brands has a 12 month low of $21.66 and a 12 month high of $60.20. The firm has a market capitalization of $1.04 billion, a PE ratio of 23.49 and a beta of 0.63.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. On average, equities research analysts predict that Turning Point Brands will post 2.62 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, December 20th. Turning Point Brands's dividend payout ratio is currently 11.11%.

Insider Activity at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.20% of the stock is owned by company insiders.

Institutional Trading of Turning Point Brands

A number of institutional investors have recently made changes to their positions in TPB. Martingale Asset Management L P boosted its stake in Turning Point Brands by 1.4% during the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company's stock worth $1,065,000 after buying an additional 329 shares during the last quarter. Corsair Capital Management L.P. boosted its stake in Turning Point Brands by 49.0% during the third quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company's stock worth $1,312,000 after buying an additional 10,000 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Turning Point Brands by 22.8% during the third quarter. BNP Paribas Financial Markets now owns 38,571 shares of the company's stock worth $1,664,000 after buying an additional 7,170 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Turning Point Brands during the third quarter worth $1,260,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Turning Point Brands by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company's stock worth $6,269,000 after buying an additional 2,442 shares during the last quarter. 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.