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 research note released on Friday morning,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $45.00 target price on shares of Turning Point Brands in a research report on Friday, August 2nd. 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 Stock Up 1.6 %

Shares of NYSE TPB opened at $52.53 on Friday. The company has a market capitalization of $930.31 million, a P/E 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 debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The company’s 50 day moving average price is $42.95 and its 200-day moving average price is $37.54.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 34.39%. The firm had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. During the same quarter in the previous year, the company earned $0.69 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts forecast that Turning Point Brands will post 2.68 earnings per share for the current year.

Turning Point Brands Announces Dividend

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

Insiders Place Their Bets

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 46,544 shares in the company, valued at $1,834,764.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Turning Point Brands

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in Turning Point Brands during the first quarter valued at about $48,000. Copeland Capital Management LLC bought a new position in Turning Point Brands during the third quarter valued at about $61,000. Allspring Global Investments Holdings LLC bought a new position in Turning Point Brands during the first quarter valued at about $64,000. SG Americas Securities LLC bought a new position in Turning Point Brands during the second quarter valued at about $129,000. Finally, The Manufacturers Life Insurance Company bought a new position in Turning Point Brands during the second quarter valued at about $209,000. Institutional investors own 96.12% of the company’s stock.

About Turning Point Brands

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.