Turning Point Brands, Inc. (NYSE:TPB) Receives $68.75 Consensus Target Price from Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have earned an average recommendation of “Buy” from the five ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $68.75.

TPB has been the topic of several recent analyst reports. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. 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. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Friday. Craig Hallum increased their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Roth Mkm reissued a “buy” rating and issued a $70.00 target price (up previously from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th.

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds have recently added to or reduced their stakes in TPB. Corsair Capital Management L.P. increased its position in shares of Turning Point Brands by 49.0% during the third quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock worth $1,312,000 after acquiring an additional 10,000 shares during the period. Pekin Hardy Strauss Inc. purchased a new stake in Turning Point Brands during the 3rd quarter worth about $1,260,000. Federated Hermes Inc. raised its position in Turning Point Brands by 245.9% in the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after purchasing an additional 109,983 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Turning Point Brands by 14.1% in the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after buying an additional 22,035 shares during the period. Finally, Harspring Capital Management LLC grew its position in shares of 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 buying an additional 21,500 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $60.71 on Monday. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The company has a 50-day moving average price of $58.08 and a 200 day moving average price of $45.40. Turning Point Brands has a 12-month low of $21.98 and a 12-month high of $66.18. The stock has a market cap of $1.07 billion, a P/E ratio of 24.09 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating 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 firm had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter in the previous year, the company earned $0.69 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

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.