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 report released on Thursday morning.

TPB has been the topic of a number of other reports. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th. Roth Mkm assumed coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, 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.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $46.33 on Thursday. Turning Point Brands has a 52 week low of $19.67 and a 52 week high of $47.34. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The stock has a market capitalization of $816.43 million, a price-to-earnings ratio of 20.41 and a beta of 0.63. The firm has a fifty day moving average of $41.03 and a two-hundred day moving average of $35.81.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data 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 during the quarter. As a group, equities research analysts predict that Turning Point Brands will post 2.68 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a $0.07 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.60%. Turning Point Brands’s dividend payout ratio is presently 12.33%.

Insider Buying and Selling

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.20% of the stock is owned by company insiders.

Institutional Trading of Turning Point Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of Turning Point Brands during the first quarter worth about $48,000. Copeland Capital Management LLC acquired a new position in Turning Point Brands during the 3rd quarter worth approximately $61,000. Allspring Global Investments Holdings LLC bought a new position in shares of Turning Point Brands during the 1st quarter worth approximately $64,000. SG Americas Securities LLC acquired a new stake in shares of Turning Point Brands in the second quarter valued at approximately $129,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Turning Point Brands in the second quarter worth $209,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.