Turning Point Brands (NYSE:TPB) Lowered to Buy at StockNews.com

StockNews.com lowered shares of Turning Point Brands (NYSE:TPB) from a strong-buy rating to a buy rating in a research note published on Friday morning.

A number of other equities research analysts have also issued reports on the stock. Benchmark reissued a buy rating and issued a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd. Roth Capital upgraded Turning Point Brands to a strong-buy rating in a report on Thursday. Finally, Roth Mkm initiated coverage on Turning Point Brands in a report on Thursday. They issued a buy rating and a $50.00 price objective for the company.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock opened at $41.90 on Friday. The stock has a market capitalization of $742.05 million, a price-to-earnings ratio of 18.46 and a beta of 0.62. The company has a fifty day moving average of $38.43 and a 200-day moving average of $33.40. Turning Point Brands has a 52-week low of $19.67 and a 52-week high of $42.32. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The business had revenue of $108.51 million for the quarter.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Friday, September 13th. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Insider Buying and Selling

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the transaction, the director now owns 46,544 shares in the company, valued at approximately $1,834,764.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in Turning Point Brands during the first quarter valued at $1,587,000. Harspring Capital Management LLC bought a new position in shares of Turning Point Brands in the 4th quarter worth about $2,101,000. Lord Abbett & CO. LLC lifted its position in Turning Point Brands by 45.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after acquiring an additional 79,489 shares during the period. Boston Partners bought a new stake in Turning Point Brands during the first quarter worth about $964,000. Finally, Tidal Investments LLC purchased a new stake in Turning Point Brands in the first quarter worth about $1,661,000. 96.12% of the stock is currently owned by institutional investors.

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.