Analysts Set Turning Point Brands, Inc. (NYSE:TPB) Price Target at $78.83

Turning Point Brands, Inc. (NYSE:TPB) has received an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $78.8333.

A number of equities research analysts have weighed in on TPB shares. Wall Street Zen downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Needham & Company LLC started coverage on Turning Point Brands in a report on Friday, August 1st. They issued a “hold” rating for the company. Oppenheimer lifted their target price on Turning Point Brands from $85.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a report on Wednesday, October 8th. Finally, Zacks Research downgraded Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th.

Turning Point Brands Price Performance

Shares of TPB opened at $88.74 on Friday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 37.13 and a beta of 0.74. The business has a 50-day moving average of $95.64 and a 200-day moving average of $82.00. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. Turning Point Brands has a 1 year low of $46.28 and a 1 year high of $104.76.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.19. The business had revenue of $116.63 million during the quarter, compared to the consensus estimate of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, equities research analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 19th were issued a dividend of $0.075 per share. The ex-dividend date was Friday, September 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. Turning Point Brands’s payout ratio is currently 12.55%.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently modified their holdings of TPB. GAMMA Investing LLC increased its holdings in shares of Turning Point Brands by 90.7% during the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock valued at $25,000 after acquiring an additional 156 shares in the last quarter. First Horizon Corp purchased a new position in shares of Turning Point Brands during the third quarter valued at approximately $25,000. Briaud Financial Planning Inc purchased a new position in shares of Turning Point Brands during the second quarter valued at approximately $31,000. State of Alaska Department of Revenue purchased a new position in shares of Turning Point Brands during the third quarter valued at approximately $74,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Turning Point Brands during the second quarter valued at approximately $129,000. 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.