Turning Point Brands (NYSE:TPB) Receives "Buy" Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of Turning Point Brands (NYSE:TPB - Free Report) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $70.00 target price on the stock, up from their prior target price of $55.00.

A number of other analysts have also recently issued reports on the company. Oppenheimer assumed coverage on Turning Point Brands in a research report on Thursday, November 14th. They issued an "outperform" rating and a $65.00 target price for the company. 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. StockNews.com cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th. Roth Capital upgraded shares of Turning Point Brands to a "strong-buy" rating in a research report on Friday, November 8th. Finally, Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $68.75.

Turning Point Brands Stock Down 0.3 %

Shares of NYSE:TPB traded down $0.18 during trading on Tuesday, hitting $60.59. 238,501 shares of the company were exchanged, compared to its average volume of 128,972. The firm's 50 day moving average price is $53.49 and its 200-day moving average price is $42.77. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The stock has a market capitalization of $1.07 billion, a P/E ratio of 23.87 and a beta of 0.66.

Turning Point Brands (NYSE:TPB - Get Free Report) 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 during the quarter, compared to analysts' expectations of $100.71 million. During the same period in the previous year, the company earned $0.69 earnings per share. Turning Point Brands's quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, December 20th. Turning Point Brands's dividend payout ratio (DPR) is presently 11.11%.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of TPB. Dimensional Fund Advisors LP raised its position in Turning Point Brands by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company's stock worth $14,785,000 after buying an additional 4,600 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock worth $17,506,000 after acquiring an additional 15,344 shares during the period. Renaissance Technologies LLC raised its holdings in Turning Point Brands by 21.1% during the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company's stock worth $9,714,000 after purchasing an additional 52,800 shares in the last quarter. Aristides Capital LLC lifted its position in Turning Point Brands by 6.3% in the second quarter. Aristides Capital LLC now owns 202,984 shares of the company's stock valued at $6,514,000 after purchasing an additional 12,041 shares during the period. Finally, Harspring Capital Management LLC lifted its position in Turning Point Brands by 13.4% in the second quarter. Harspring Capital Management LLC now owns 181,500 shares of the company's stock valued at $5,824,000 after purchasing an additional 21,500 shares during the period. 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.