Turning Point Brands, Inc. (NYSE:TPB) Receives Average Recommendation of “Buy” from Analysts

Turning Point Brands, Inc. (NYSE:TPB) has been given an average rating of “Buy” by the five brokerages that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $68.75.

TPB has been the topic of a number of research analyst reports. Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Craig Hallum boosted their price target 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. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price objective (up previously from $55.00) on shares of Turning Point Brands in a report on Tuesday, December 17th. StockNews.com upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Oppenheimer assumed coverage on Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price for the company.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $60.71 on Monday. The company has a market cap of $1.07 billion, a P/E ratio of 24.09 and a beta of 0.66. The firm has a fifty day moving average price of $58.08 and a 200 day moving average price of $45.40. 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 has a 12 month low of $21.98 and a 12 month high of $66.18.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 EPS. Sell-side analysts predict that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

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 given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.46%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TPB. JPMorgan Chase & Co. grew its position in Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock valued at $5,311,000 after buying an additional 56,364 shares during the last quarter. 272 Capital LP purchased a new stake in shares of Turning Point Brands in the third quarter valued at about $1,488,000. Barclays PLC increased its stake in shares of Turning Point Brands by 298.6% during the third quarter. Barclays PLC now owns 29,274 shares of the company’s stock worth $1,262,000 after acquiring an additional 21,930 shares during the period. Geode Capital Management LLC raised its holdings in Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after purchasing an additional 15,344 shares in the last quarter. Finally, First Sabrepoint Capital Management LP acquired a new stake in Turning Point Brands in the third quarter valued at about $7,517,000. 96.12% of the stock is currently owned by hedge funds and other 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.