Turning Point Brands (NYSE:TPB) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Turning Point Brands (NYSE:TPB) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

TPB has been the topic of a number of other reports. Needham & Company LLC cut their price target on Turning Point Brands from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, November 10th. Oppenheimer cut their price target on shares of Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a research note on Friday, August 28th. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Finally, Compass Point set a $116.00 target price on shares of Turning Point Brands in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.00.

Turning Point Brands Trading Down 0.3%

Shares of NYSE TPB traded down $0.15 during mid-day trading on Friday, hitting $55.60. The company’s stock had a trading volume of 354,876 shares, compared to its average volume of 398,582. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.83 and a quick ratio of 4.16. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 40.00 and a beta of 1.08. The company’s fifty day simple moving average is $63.64 and its 200-day simple moving average is $84.26. Turning Point Brands has a one year low of $54.17 and a one year high of $146.90.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Monday, November 9th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.21. Turning Point Brands had a net margin of 5.08% and a return on equity of 6.60%. The business had revenue of $151.10 million for the quarter, compared to analyst estimates of $146.68 million. During the same quarter last year, the firm earned $1.27 EPS. Turning Point Brands’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Turning Point Brands will post 1.19 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Friday, December 18th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, December 18th. Turning Point Brands’s payout ratio is presently 23.02%.

Institutional Trading of Turning Point Brands

Hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its stake in Turning Point Brands by 566.7% in the third quarter. Sterling Capital Management LLC now owns 620 shares of the company’s stock worth $36,000 after buying an additional 527 shares in the last quarter. GAMMA Investing LLC lifted its stake in Turning Point Brands by 103.3% in the third quarter. GAMMA Investing LLC now owns 681 shares of the company’s stock worth $40,000 after acquiring an additional 346 shares during the period. Operose Advisors LLC bought a new stake in shares of Turning Point Brands during the 2nd quarter valued at about $42,000. Fifth Third Bancorp bought a new position in Turning Point Brands in the first quarter worth $126,000. Finally, Quantbot Technologies LP purchased a new position in Turning Point Brands during the 2nd quarter valued at about $209,000. 96.12% of the stock is owned by institutional investors.

About Turning Point Brands

Turning Point Brands, Inc. is a U.S.-based manufacturer, marketer and distributor of branded consumer products, with a portfolio focused on tobacco and nicotine products and related accessories. Its products are sold primarily in the United States, with distribution in international markets as well. The company’s Zig-Zag Products business includes rolling papers, wraps, cones and other products associated with the Zig-Zag brand. Its Stoker’s Products business offers products such as loose-leaf chewing tobacco and moist snuff, along with nicotine pouches sold under brands including Stoker’s and FRE.