By otakuyassine3@gmail.com 
StockNews.com lowered shares of Turning Point Brands (NYSE:TPB – Free Report) from a buy rating to a hold rating in a report issued on Thursday.
A number of other research analysts have also recently commented on TPB. Roth Mkm restated a “buy” rating and issued a $70.00 price target (up previously from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Craig Hallum boosted their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. 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 target on the stock. Finally, Benchmark boosted their price objective 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. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $68.75.
Turning Point Brands Stock Performance
NYSE TPB opened at $59.84 on Thursday. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. The firm has a 50-day moving average price of $56.54 and a two-hundred day moving average price of $44.40. The company has a market capitalization of $1.06 billion, a P/E ratio of 23.75 and a beta of 0.66. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.
Turning Point Brands (NYSE:TPB – Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) 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 business had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same period in the previous year, the company posted $0.69 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current year.
Turning Point Brands Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Copeland Capital Management LLC acquired a new position in shares of Turning Point Brands in the third quarter valued at approximately $61,000. The Manufacturers Life Insurance Company acquired a new position in Turning Point Brands in the 2nd quarter valued at approximately $209,000. Magnetar Financial LLC bought a new position in shares of Turning Point Brands during the second quarter valued at $212,000. Aigen Investment Management LP acquired a new position in shares of Turning Point Brands during the third quarter worth $221,000. Finally, Moran Wealth Management LLC bought a new stake in shares of Turning Point Brands in the third quarter worth $236,000. 96.12% of the stock is currently owned by institutional investors.
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.
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