Brokerages Set Turning Point Brands, Inc. (NYSE:TPB) Price Target at $73.33

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $76.67.

Several equities research analysts have recently weighed in on the stock. Alliance Global Partners began coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective for the company. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. Oppenheimer boosted their target price on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $75.59 on Friday. The firm has a market cap of $1.34 billion, a PE ratio of 30.00 and a beta of 0.69. Turning Point Brands has a 52 week low of $30.61 and a 52 week high of $81.05. The firm’s fifty day moving average is $59.82 and its 200-day moving average is $59.74. 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 (NYSE:TPB) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $106.44 million during the quarter, compared to analysts’ expectations of $95.75 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up 28.2% on a year-over-year basis. Sell-side analysts predict that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands’s dividend payout ratio is currently 14.15%.

Institutional Investors Weigh In On Turning Point Brands

A number of institutional investors and hedge funds have recently bought and sold shares of TPB. Arizona State Retirement System grew its stake in shares of Turning Point Brands by 4.1% in the 1st quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock worth $302,000 after acquiring an additional 199 shares in the last quarter. Sei Investments Co. grew its holdings 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 valued at $4,693,000 after acquiring an additional 283 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Turning Point Brands by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company’s stock valued at $585,000 after acquiring an additional 330 shares in the last quarter. Rhumbline Advisers lifted its holdings in Turning Point Brands by 1.9% during the first quarter. Rhumbline Advisers now owns 24,531 shares of the company’s stock worth $1,458,000 after acquiring an additional 464 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Turning Point Brands by 7.1% in the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock valued at $436,000 after purchasing an additional 482 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

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.