Turning Point Brands (NYSE:TPB) Rating Increased to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Turning Point Brands (NYSE:TPB) to a strong-buy rating in a research report sent to investors on Thursday morning, Zacks.com reports.

Several other equities research analysts have also commented on the stock. Benchmark reissued a buy rating and set a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd. Roth Mkm started coverage on shares of Turning Point Brands in a research note on Thursday. They set a buy rating and a $50.00 price objective on the stock.

Turning Point Brands Trading Up 0.5 %

Shares of TPB opened at $41.93 on Thursday. The firm’s 50-day moving average price is $38.43 and its 200-day moving average price is $33.45. The firm has a market capitalization of $742.58 million, a price-to-earnings ratio of 18.47 and a beta of 0.62. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. Turning Point Brands has a 1-year low of $19.67 and a 1-year high of $42.32.

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

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.67%. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Insiders Place Their Bets

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TPB. Aristides Capital LLC raised its holdings in shares of Turning Point Brands by 6.3% during the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after purchasing an additional 12,041 shares during the last quarter. Algert Global LLC raised its holdings in shares of Turning Point Brands by 3.9% during the second quarter. Algert Global LLC now owns 115,970 shares of the company’s stock valued at $3,721,000 after purchasing an additional 4,388 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands during the second quarter valued at approximately $209,000. Millennium Management LLC raised its holdings in shares of Turning Point Brands by 14.1% during the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after purchasing an additional 22,035 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Turning Point Brands by 32.5% during the second quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock valued at $1,311,000 after purchasing an additional 10,033 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other 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.