Roth Mkm reissued their buy rating on shares of Turning Point Brands (NYSE:TPB - Free Report) in a report released on Friday morning,Benzinga reports. The firm currently has a $70.00 target price on the stock.
TPB has been the topic of several other reports. Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a report on Friday, November 8th. Craig Hallum increased their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Benchmark lifted their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. StockNews.com raised Turning Point Brands from a "hold" rating to a "buy" rating in a research note on Friday, January 3rd. Finally, Oppenheimer began coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They set an "outperform" rating and a $65.00 target price for the company. Five investment 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, the stock currently has an average rating of "Buy" and a consensus target price of $68.75.
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Turning Point Brands Stock Performance
NYSE:TPB traded down $1.22 during trading hours on Friday, hitting $55.16. 236,073 shares of the company were exchanged, compared to its average volume of 235,174. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands has a 52-week low of $21.98 and a 52-week high of $66.18. The stock has a market capitalization of $976.17 million, a price-to-earnings ratio of 21.89 and a beta of 0.66. The company's 50 day moving average price is $58.84 and its 200-day moving average price is $45.98.
Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. As a group, research analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current year.
Turning Point Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.07 dividend. 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 dividend payout ratio is currently 11.11%.
Hedge Funds Weigh In On Turning Point Brands
Institutional investors have recently bought and sold shares of the company. First Sabrepoint Capital Management LP purchased a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $7,517,000. Federated Hermes Inc. increased its position in shares of Turning Point Brands by 245.9% in the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company's stock valued at $4,965,000 after purchasing an additional 109,983 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock valued at $5,311,000 after purchasing an additional 56,364 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Turning Point Brands by 21.1% during the 2nd 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 during the last quarter. Finally, 272 Capital LP acquired a new position in shares of Turning Point Brands during the third quarter worth $1,488,000. 96.12% of the stock is owned by hedge funds and other institutional investors.
About Turning Point Brands
(
Get Free Report)
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.
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