Roth Mkm Begins Coverage on Turning Point Brands (NYSE:TPB)

Roth Mkm initiated coverage on shares of Turning Point Brands (NYSE:TPB) in a research report released on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $50.00 price target on the stock.

Separately, Benchmark reaffirmed a buy rating and issued a $45.00 target price on shares of Turning Point Brands in a report on Friday, August 2nd.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $41.93 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.80 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 company’s fifty day simple moving average is $38.43 and its 200-day simple moving average is $33.49. The firm has a market cap of $738.89 million, a PE ratio of 18.47 and a beta of 0.62.

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

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 paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, September 13th. Turning Point Brands’s dividend payout ratio is presently 12.33%.

Insider Buying and Selling

In other 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 transaction of $78,840.00. Following the completion of the sale, the director now owns 46,544 shares in the company, valued at $1,834,764.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Turning Point Brands

Several institutional investors have recently added to or reduced their stakes in TPB. Lazard Asset Management LLC acquired a new position in shares of Turning Point Brands in the first quarter valued at about $48,000. Allspring Global Investments Holdings LLC bought a new position in shares of Turning Point Brands during the first quarter worth approximately $64,000. Quest Partners LLC bought a new position in Turning Point Brands during the 4th quarter worth $65,000. SG Americas Securities LLC acquired a new position in Turning Point Brands in the 2nd quarter valued at $129,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Turning Point Brands during the 2nd quarter valued at $209,000. 96.12% of the stock is currently owned by 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.