Turning Point Brands (NYSE:TPB) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Turning Point Brands (NYSE:TPB) from a hold rating to a buy rating in a research report report published on Saturday.

Several other equities research analysts have also weighed in on the company. Alliance Global Partners raised their price objective on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday. Industrial Alliance Securities set a $110.00 price target on Turning Point Brands in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Turning Point Brands in a research note on Thursday, October 30th. Needham & Company LLC assumed coverage on shares of Turning Point Brands in a report on Friday, August 1st. They set a “hold” rating on the stock. Finally, Zacks Research lowered Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Turning Point Brands presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded up $2.52 during trading hours on Friday, hitting $102.71. The stock had a trading volume of 557,173 shares, compared to its average volume of 443,884. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.67 and a current ratio of 5.56. Turning Point Brands has a 1-year low of $49.12 and a 1-year high of $110.55. The stock’s fifty day simple moving average is $95.07 and its 200 day simple moving average is $84.12. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 36.17 and a beta of 0.85.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Wednesday, November 5th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.81 by $0.46. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The firm had revenue of $118.98 million for the quarter, compared to analysts’ expectations of $111.42 million. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 12.7% 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 fiscal year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be given a $0.075 dividend. The ex-dividend date is Friday, December 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.3%. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.56%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TPB. Y Intercept Hong Kong Ltd acquired a new stake in Turning Point Brands during the first quarter valued at approximately $325,000. 4D Advisors LLC acquired a new stake in Turning Point Brands in the 1st quarter valued at $5,647,000. 1060 Capital LLC bought a new stake in Turning Point Brands in the first quarter valued at $2,114,000. Counterpoint Mutual Funds LLC bought a new stake in Turning Point Brands in the second quarter valued at $412,000. Finally, PDT Partners LLC bought a new position in shares of Turning Point Brands during the first quarter valued at $549,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.