Turning Point Brands (NYSE:TPB) Upgraded at Roth Capital

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

TPB has been the topic of a number of other research reports. Benchmark reiterated a buy rating and issued a $45.00 target price on shares of Turning Point Brands in a research report on Friday, August 2nd. Roth Mkm started coverage on shares of 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 Performance

Turning Point Brands stock opened at $41.93 on Thursday. The firm’s fifty day moving average price is $38.43 and its 200-day moving average price is $33.45. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The stock has a market cap of $742.58 million, a P/E ratio of 18.47 and a beta of 0.62. Turning Point Brands has a fifty-two week low of $19.67 and a fifty-two week high of $42.32.

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

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Friday, September 13th. Turning Point Brands’s payout ratio is presently 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 dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now owns 46,544 shares in the company, valued at $1,834,764.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds have recently modified their holdings of the company. Aristides Capital LLC increased its position in shares of Turning Point Brands by 6.3% in the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after acquiring an additional 12,041 shares during the period. Algert Global LLC increased its position in shares of Turning Point Brands by 3.9% in the second quarter. Algert Global LLC now owns 115,970 shares of the company’s stock valued at $3,721,000 after acquiring an additional 4,388 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands in the second quarter valued at about $209,000. Millennium Management LLC increased its position in shares of Turning Point Brands by 14.1% in the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after acquiring an additional 22,035 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Turning Point Brands by 32.5% in the second quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock valued at $1,311,000 after acquiring an additional 10,033 shares during the period. 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.