Turning Point Brands, Inc. (NYSE:TPB) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) have been given an average rating of "Buy" by the five ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $68.75.

Several equities research analysts have recently commented on the stock. Roth Capital upgraded shares of Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. Craig Hallum increased their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Benchmark raised their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. StockNews.com downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Finally, Oppenheimer initiated coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They set an "outperform" rating and a $65.00 price objective for the company.

Turning Point Brands Stock Up 1.9 %

Shares of TPB traded up $1.05 during midday trading on Friday, hitting $57.50. 130,877 shares of the company's stock traded hands, compared to its average volume of 188,892. Turning Point Brands has a 1 year low of $21.98 and a 1 year high of $66.18. The firm's fifty day moving average is $59.75 and its 200-day moving average is $47.82. 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 has a market capitalization of $1.02 billion, a price-to-earnings ratio of 22.82 and a beta of 0.66.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, sell-side analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.49%. Turning Point Brands's payout ratio is 11.11%.

Hedge Funds Weigh In On Turning Point Brands

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Turning Point Brands by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company's stock worth $14,785,000 after purchasing an additional 4,600 shares during the period. XTX Topco Ltd lifted its position in shares of Turning Point Brands by 16.2% during the 2nd quarter. XTX Topco Ltd now owns 12,300 shares of the company's stock valued at $395,000 after buying an additional 1,714 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Turning Point Brands in the 2nd quarter valued at $212,000. Marshall Wace LLP increased its holdings in Turning Point Brands by 0.3% in the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company's stock worth $3,849,000 after acquiring an additional 367 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Turning Point Brands by 32.5% during the second quarter. AQR Capital Management LLC now owns 40,867 shares of the company's stock worth $1,311,000 after acquiring an additional 10,033 shares during the period. 96.12% of the stock is currently 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.