Turning Point Brands (NYSE:TPB) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Turning Point Brands (NYSE:TPB) from a buy rating to a hold rating in a report released on Thursday.

Several other research analysts have also weighed in on TPB. Benchmark lifted their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Craig Hallum lifted their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Oppenheimer initiated coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target on the stock. 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 research report on Tuesday, December 17th. Finally, Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Turning Point Brands presently has an average rating of “Buy” and an average target price of $68.75.

Turning Point Brands Stock Performance

NYSE:TPB opened at $59.84 on Thursday. 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 fifty-two week low of $21.98 and a fifty-two week high of $66.18. The company has a 50 day simple moving average of $56.54 and a two-hundred day simple moving average of $44.40. The company has a market capitalization of $1.06 billion, a PE ratio of 23.75 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same period in the prior year, the company posted $0.69 earnings per share. Turning Point Brands’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm 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 0.47%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s payout ratio is currently 11.11%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Copeland Capital Management LLC acquired a new position in shares of Turning Point Brands during the third quarter valued at about $61,000. Aigen Investment Management LP bought a new position in Turning Point Brands in the 3rd quarter valued at about $221,000. Moran Wealth Management LLC bought a new position in Turning Point Brands in the 3rd quarter valued at about $236,000. The Manufacturers Life Insurance Company acquired a new position in Turning Point Brands during the 2nd quarter valued at about $209,000. Finally, Magnetar Financial LLC bought a new stake in Turning Point Brands during the 2nd quarter worth approximately $212,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.