Benchmark Increases Turning Point Brands (NYSE:TPB) Price Target to $45.00

Turning Point Brands (NYSE:TPB) had its target price upped by Benchmark from $34.00 to $45.00 in a research report released on Friday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

Turning Point Brands Stock Up 0.5 %

NYSE TPB traded up $0.16 during trading hours on Friday, hitting $32.73. The company’s stock had a trading volume of 176,173 shares, compared to its average volume of 93,310. The company has a market capitalization of $578.57 million, a PE ratio of 14.42 and a beta of 0.50. The company has a current ratio of 2.67, a quick ratio of 1.68 and a debt-to-equity ratio of 2.02. Turning Point Brands has a 52 week low of $19.67 and a 52 week high of $34.00. The company’s 50-day simple moving average is $27.77 and its two-hundred day simple moving average is $25.05.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.72 EPS for the quarter. Turning Point Brands had a return on equity of 39.00% and a net margin of 10.68%. The business had revenue of $97.10 million during the quarter, compared to analyst estimates of $90.11 million. During the same period in the prior year, the firm posted $0.65 EPS. Turning Point Brands’s quarterly revenue was down 6.1% compared to the same quarter last year.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.86%. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Insider Activity

In other Turning Point Brands news, insider Plano Lorenzo De bought 15,043 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $27.97 per share, with a total value of $420,752.71. Following the transaction, the insider now directly owns 31,375 shares in the company, valued at approximately $877,558.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in Turning Point Brands in the 1st quarter worth approximately $1,587,000. BNP Paribas Financial Markets lifted its holdings in Turning Point Brands by 6.8% during the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after purchasing an additional 1,159 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Turning Point Brands in the 1st quarter worth about $64,000. Harspring Capital Management LLC bought a new stake in shares of Turning Point Brands during the fourth quarter valued at about $2,101,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Turning Point Brands by 571.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,017 shares of the company’s stock worth $106,000 after buying an additional 3,419 shares in the last quarter. 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.