Turning Point Brands (NYSE:TPB) Trading Up 4.6% – Time to Buy?

Turning Point Brands, Inc. (NYSE:TPB) rose 4.6% during mid-day trading on Thursday . The stock traded as high as $67.23 and last traded at $70.12. Approximately 55,942 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 141,638 shares. The stock had previously closed at $67.02.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TPB shares. StockNews.com upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a report on Monday. Benchmark boosted their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. 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 report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective on the stock. Finally, Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $71.00.

Turning Point Brands Stock Performance

The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.15 billion, a P/E ratio of 25.88 and a beta of 0.74. The business has a fifty day simple moving average of $62.82 and a 200-day simple moving average of $53.72.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.12). Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. On average, sell-side analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given a $0.075 dividend. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands’s payout ratio is currently 11.90%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its stake in shares of Turning Point Brands by 0.4% in the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock worth $4,693,000 after acquiring an additional 283 shares during the last quarter. Martingale Asset Management L P grew its position in Turning Point Brands by 1.4% during the 3rd quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock valued at $1,065,000 after purchasing an additional 329 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Turning Point Brands by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company’s stock valued at $585,000 after purchasing an additional 330 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Turning Point Brands by 7.1% in the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock worth $436,000 after buying an additional 482 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Turning Point Brands by 29.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after buying an additional 532 shares in the last quarter. Institutional investors 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.