Turning Point Brands, Inc. (NYSE:TPB) Receives $60.00 Average PT from Brokerages

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been given a consensus rating of “Buy” by the five brokerages that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $63.75.

TPB has been the subject of several research analyst reports. StockNews.com cut Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Oppenheimer began coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective on the stock. Craig Hallum upped their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday. Roth Mkm started coverage on shares of Turning Point Brands in a research note on Thursday, September 19th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Benchmark lifted their price target 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.

Turning Point Brands Trading Up 0.3 %

TPB opened at $64.22 on Thursday. Turning Point Brands has a 1-year low of $21.98 and a 1-year high of $66.18. The company’s 50 day moving average is $51.07 and its 200-day moving average is $41.46. The company has a market cap of $1.14 billion, a P/E ratio of 25.48 and a beta of 0.66. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same period last year, the business earned $0.69 earnings per share. Turning Point Brands’s quarterly revenue was up 3.8% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.44%. Turning Point Brands’s dividend payout ratio (DPR) is 11.11%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. 272 Capital LP bought a new position in Turning Point Brands in the 3rd quarter worth about $1,488,000. Barclays PLC grew its holdings in Turning Point Brands by 298.6% in the 3rd quarter. Barclays PLC now owns 29,274 shares of the company’s stock worth $1,262,000 after buying an additional 21,930 shares in the last quarter. Geode Capital Management LLC increased its position in Turning Point Brands by 3.9% in the 3rd 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 period. First Sabrepoint Capital Management LP bought a new stake in Turning Point Brands during the 3rd quarter valued at $7,517,000. Finally, Jane Street Group LLC grew its stake in shares of Turning Point Brands by 9.9% in the third quarter. Jane Street Group LLC now owns 29,228 shares of the company’s stock worth $1,261,000 after purchasing an additional 2,637 shares in 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.