StockNews.com upgraded shares of Turning Point Brands (NYSE:TPB - Free Report) from a hold rating to a buy rating in a report released on Wednesday morning.
Several other research analysts have also recently weighed in on TPB. Roth Mkm reiterated a "buy" rating and set a $70.00 price objective (up previously from $55.00) on shares of Turning Point Brands in a research report on Tuesday. Oppenheimer assumed coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an "outperform" rating and a $65.00 price objective for the company. Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a report on Friday, November 8th. Benchmark lifted their price target 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. Finally, 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. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Turning Point Brands currently has an average rating of "Buy" and a consensus price target of $68.75.
Check Out Our Latest Research Report on TPB
Turning Point Brands Stock Performance
Shares of TPB stock opened at $60.61 on Wednesday. Turning Point Brands has a 52 week low of $21.98 and a 52 week high of $66.18. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.05 and a beta of 0.66. The company has a 50-day simple moving average of $53.88 and a 200 day simple moving average of $42.96. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.
Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.01. The company had revenue of $105.62 million during the quarter, compared to analysts' expectations of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. On average, sell-side analysts predict that Turning Point Brands will post 2.59 earnings per share for the current year.
Turning Point Brands Announces Dividend
The company 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.46%. Turning Point Brands's dividend payout ratio is 11.11%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in TPB. 272 Capital LP acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at $1,488,000. Barclays PLC boosted its stake in Turning Point Brands by 298.6% in the third quarter. Barclays PLC now owns 29,274 shares of the company's stock valued at $1,262,000 after buying an additional 21,930 shares in the last quarter. Geode Capital Management LLC grew its position in Turning Point Brands by 3.9% in the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock valued at $17,506,000 after acquiring an additional 15,344 shares during the last quarter. First Sabrepoint Capital Management LP bought a new position in Turning Point Brands in the third quarter valued at about $7,517,000. Finally, Jane Street Group LLC raised its stake in Turning Point Brands by 9.9% during the third quarter. Jane Street Group LLC now owns 29,228 shares of the company's stock worth $1,261,000 after acquiring an additional 2,637 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.
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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