Turning Point Brands (NYSE:TPB) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Turning Point Brands (NYSE:TPB) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.

A number of other research firms also recently issued reports on TPB. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th. Benchmark reaffirmed a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a research report on Friday, August 2nd. Finally, Roth Mkm assumed coverage on Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price on the stock.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $43.57 on Wednesday. The firm has a market cap of $767.79 million, a price-to-earnings ratio of 19.19 and a beta of 0.63. The stock’s 50-day moving average is $40.22 and its 200-day moving average is $35.19. Turning Point Brands has a one year low of $19.67 and a one year high of $43.82. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The company had revenue of $108.51 million for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. Equities analysts predict that Turning Point Brands will post 2.68 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Friday, September 13th. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Insiders Place Their Bets

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the transaction, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

Institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new position in Turning Point Brands during the first quarter worth approximately $1,587,000. Lord Abbett & CO. LLC increased its position in Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after buying an additional 79,489 shares during the last quarter. Boston Partners acquired a new position in Turning Point Brands during the first quarter worth approximately $964,000. Tidal Investments LLC acquired a new position in Turning Point Brands during the first quarter worth approximately $1,661,000. Finally, Vanguard Group Inc. increased its position in Turning Point Brands by 6.6% during the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after buying an additional 92,147 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.