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

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

Several other equities analysts have also commented on TPB. Benchmark restated a buy rating and set a $45.00 price target on shares of Turning Point Brands in a research note on Friday, August 2nd. Roth Mkm initiated coverage on Turning Point Brands in a research report on Thursday. They issued a buy rating and a $50.00 target price on the stock.

Turning Point Brands Stock Up 0.5 %

NYSE TPB opened at $41.93 on Thursday. The stock has a market cap of $738.89 million, a PE ratio of 18.47 and a beta of 0.62. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. Turning Point Brands has a 12 month low of $19.67 and a 12 month high of $42.32. The stock’s 50 day moving average is $38.43 and its 200 day moving average is $33.49.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The company had revenue of $108.51 million during the quarter.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Friday, September 13th. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Insider Buying and Selling at Turning Point Brands

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 value of $78,840.00. Following the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPB. Lazard Asset Management LLC acquired a new stake in shares of Turning Point Brands in the 1st quarter valued at $48,000. Allspring Global Investments Holdings LLC purchased a new stake in Turning Point Brands during the 1st quarter valued at approximately $64,000. Quest Partners LLC acquired a new position in Turning Point Brands in the 4th quarter valued at $65,000. SG Americas Securities LLC acquired a new position in shares of Turning Point Brands during the second quarter worth about $129,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands during the 2nd quarter worth approximately $209,000. Hedge funds and other 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.