Turning Point Brands (NYSE:TPB) Upgraded 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 note issued to investors on Saturday morning.

TPB has been the subject of a number of other research reports. Zacks Research downgraded shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Needham & Company LLC assumed coverage on Turning Point Brands in a research report on Friday, August 1st. They issued a “hold” rating for the company. Industrial Alliance Securities set a $110.00 price objective on Turning Point Brands in a research report on Wednesday, November 5th. Oppenheimer set a $110.00 price objective on Turning Point Brands and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Turning Point Brands in a report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Turning Point Brands presently has an average rating of “Moderate Buy” and an average target price of $90.00.

Turning Point Brands Stock Down 1.3%

NYSE TPB opened at $101.64 on Friday. The business has a fifty day moving average price of $95.11 and a 200 day moving average price of $84.60. Turning Point Brands has a one year low of $51.48 and a one year high of $110.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. The company has a market cap of $1.94 billion, a P/E ratio of 35.79 and a beta of 0.85.

Turning Point Brands (NYSE:TPB) last released its earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.46. The business had revenue of $118.98 million during the quarter, compared to analyst estimates of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Research analysts anticipate that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced 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 of this dividend is Friday, December 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. Turning Point Brands’s dividend payout ratio is presently 10.56%.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Turning Point Brands by 90.7% in the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after acquiring an additional 156 shares during the last quarter. First Horizon Corp purchased a new stake in Turning Point Brands in the third quarter valued at approximately $25,000. Briaud Financial Planning Inc purchased a new stake in Turning Point Brands in the second quarter valued at approximately $31,000. State of Alaska Department of Revenue acquired a new position in Turning Point Brands during the third quarter worth $74,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Turning Point Brands in the second quarter valued at $129,000. 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.