Turning Point Brands, Inc. (NYSE:TPB) Given Consensus Rating of “Buy” by Analysts

Turning Point Brands, Inc. (NYSE:TPB) has been given an average recommendation of “Buy” by the five analysts that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $68.75.

Several research analysts have commented on TPB shares. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Benchmark lifted their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Oppenheimer began coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target for the company. Finally, Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th.

Institutional Investors Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently modified their holdings of TPB. Dimensional Fund Advisors LP boosted its position in shares of Turning Point Brands by 1.0% in the second 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 period. XTX Topco Ltd raised its stake in Turning Point Brands by 16.2% during the second quarter. XTX Topco Ltd now owns 12,300 shares of the company’s stock valued at $395,000 after buying an additional 1,714 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Turning Point Brands during the second quarter valued at approximately $212,000. Marshall Wace LLP raised its position in shares of Turning Point Brands by 0.3% during the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after purchasing an additional 367 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Turning Point Brands by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock worth $1,311,000 after buying an additional 10,033 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Price Performance

TPB stock opened at $56.35 on Friday. 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 firm has a market capitalization of $997.43 million, a P/E ratio of 22.36 and a beta of 0.66. The business’s 50-day moving average is $59.85 and its two-hundred day moving average is $47.60. Turning Point Brands has a 1 year low of $21.98 and a 1 year high of $66.18.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS. Analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

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.