Roth Mkm Reiterates Buy Rating for Turning Point Brands (NYSE:TPB)

Roth Mkm reiterated their buy rating on shares of Turning Point Brands (NYSE:TPB) in a research report sent to investors on Friday,Benzinga reports. They currently have a $70.00 target price on the stock.

Several other equities research analysts have also weighed in on the company. StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Benchmark increased 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. Oppenheimer assumed coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price for the company. Craig Hallum raised 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 note on Thursday, December 5th. Finally, Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Trading Down 2.2 %

NYSE TPB opened at $55.16 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands has a one year low of $21.98 and a one year high of $66.18. The company has a 50-day simple moving average of $58.98 and a 200-day simple moving average of $46.14. The firm has a market capitalization of $976.17 million, a PE ratio of 21.89 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $105.62 million during 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%. Turning Point Brands’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, equities analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.51%. Turning Point Brands’s dividend payout ratio (DPR) is 11.11%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPB. Dimensional Fund Advisors LP lifted its position in 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 purchasing an additional 4,600 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Turning Point Brands by 3.9% in the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after buying an additional 15,344 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Turning Point Brands by 21.1% in the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after buying an additional 52,800 shares during the period. Aristides Capital LLC boosted its stake in 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 buying an additional 12,041 shares in the last quarter. Finally, Harspring Capital Management LLC grew its holdings in Turning Point Brands by 13.4% during the second quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock worth $5,824,000 after acquiring an additional 21,500 shares during the period. 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.