Turning Point Brands (NYSE:TPB) Raised to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Turning Point Brands (NYSE:TPB) to a strong-buy rating in a report released on Friday morning,Zacks.com reports.

Several other equities research analysts also recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a report on Friday, August 2nd. Roth Mkm initiated coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th.

Turning Point Brands Price Performance

NYSE TPB opened at $52.53 on Friday. The company has a market cap of $930.31 million, a PE ratio of 20.85 and a beta of 0.63. Turning Point Brands has a 52 week low of $21.19 and a 52 week high of $52.92. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The firm’s 50-day simple moving average is $42.95 and its two-hundred day simple moving average is $37.54.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 34.39%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Research analysts predict that Turning Point Brands will post 2.68 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s payout ratio is 11.11%.

Insider Activity at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the sale, the director now directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP grew its position in Turning Point Brands by 0.3% during the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock valued at $3,849,000 after acquiring an additional 367 shares during the last quarter. Principal Financial Group Inc. grew its position in Turning Point Brands by 8.9% during the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after acquiring an additional 693 shares during the last quarter. Access Investment Management LLC grew its position in Turning Point Brands by 0.6% during the second quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock valued at $3,895,000 after acquiring an additional 745 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Turning Point Brands by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock valued at $371,000 after acquiring an additional 800 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Turning Point Brands by 6.8% during the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock valued at $532,000 after acquiring an additional 1,159 shares during the last quarter. 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.